material variance

How Do You Calculate Material Variance?

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How Do You Calculate Material Variance? The calculation is: (Actual price – Standard price) x Actual quantity. Material yield variance. This is concerned solely with the number of units of the materials used in the production process. The calculation is: (Actual unit usage – Standard unit usage) x Standard cost How do you calculate direct

Who Is Responsible For Material Quantity Variance?

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Who Is Responsible For Material Quantity Variance? The materials price variance is usually the responsibility of the purchasing manager. The materials quantity and labor efficiency variances are usually the responsibility of production managers and supervisors. Which department is responsible for material quantity variance? In general, the production department of the company is responsible for direct