Formulas Flashcards
1
Q
Total direct material variance
A
The standard cost of materials for the actual production level ——- the actual cost of materials or the actual production level
2
Q
Direct material usage
A
The standard quantity of material for actual production at standard price. ——- the actual quantity of material used at a standard price
3
Q
Total direct material variance
A
The standard cost of materials for the actual level of production——- the actual cost of materials for the actual production level
4
Q
Direct material price variance
A
The standard cost of the actual quantity of the material used - the actual production cost of the actual quantity of material used
5
Q
Direct labour variance
A
Standard cost of labour actual production- actual cost of labour actual production level
