Material Price Variance = Actual Usage (……………)

Related MCQs

• Material Usage Variance=Material Mix Variance +…………..
• Material usage variance = standard price(……………….)
• Material price variance is the difference between standard and actual prices of materials used multiplied by………………..
• PP Ltd is preparing the production and material purchase budgets for one of their products, The SUPERX for the forthcoming year. The following information is available: Sales demand (units) 30000 Material usage per unit 7 kgs Estimated opening inventory 3500 units Required closing inventory 35% higher than opening inventory How many units of the SUPERX will need to be produced?
• An unfavourable material price variance occurs because of:
• A company has the following budget for the six month: Finished product Materials Sales - 7,000 units Usage per unit - 3 kg Production units - 7200 units Opening stock - 400 kg Closing stock - 500 kg What is the material purchase budget for the month?
• An unfavourable material usage arises because of:
• Total Material cost variance =
• Material mix variance = standard cost of standard mix - ………………..
• 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.