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ScotlandAccountingQuick questions
Management Accounting
Quick questions on Standard costing and variance analysis - SQA Advanced Higher Accounting
2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Standard price is GBP 6 per kg; actual quantity used is 2,000 kg at an actual price of GBP 5.70. Calculate the material price variance and label it. [3 marks]
What is q2?Show answer
Standard hours for actual output are 900; actual hours are 950; standard rate is GBP 10. Calculate the labour efficiency variance and label it. [3 marks]
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