Material price variance is the difference between standard and actual prices of materials used multiplied by………………..

Related MCQs

• Material Usage Variance=Material Mix Variance +…………..
• Material Price Variance = Actual Usage (……………)
• Material mix variance = standard cost of standard mix - ………………..
• Material usage variance = standard price(……………….)
• Labour cost variance is the difference between standard cost of labour and………..
• An unfavourable material price variance occurs because of:
• When …………………….is used on the basis of budgeted overheads and the rate is applied to the actual base, the actual overhead expenses may be different from the charged overheads.
• When the actual loss is more than the estimated loss, the difference between the two is considered to be………..
• When actual loss is less than the estimated loss, the difference between the two is considered to be……………
• When actual loss is ………..than the estimated loss, the difference between the two is considered to be abnormal gain