Materials mix variance, Cost Accounting

Materials mix variance:  It can be described as that portion of direct material usage variance which is the variation between the actual quantities of ingredients used in a mixture at standard price and the entire quantity of ingredients used at the weighted average price for each unit of ingredients as displayed by the standard cost sheet.

MMV = Standard Price (Standard Quantity - Actual Quantity)

(or) when standard is revised because of the shortage of a particular type of material

MMV = Standard Price (Revised Standard Quantity - Actual Quantity)

Where Revised standard quantity = Total weight of actual mix x Standard quantity

                                               Total weight of standard mix

Posted Date: 10/15/2012 7:26:08 AM | Location : United States







Related Discussions:- Materials mix variance, Assignment Help, Ask Question on Materials mix variance, Get Answer, Expert's Help, Materials mix variance Discussions

Write discussion on Materials mix variance
Your posts are moderated
Related Questions
Purchase of office supplies.


Q. What was the amount of cash a firm collected from its customers, given the following fact set? The firm's balance sheets at the beginning and end of the year show gross accou

The following information is available for Whitlock Corporation in millions average common stockholders equity 2014-$2,532 2013-$2,591 dividends declared for common stockholders 20

XYZ Pvt Ltd is a private company incorporated in Australia, and manufactures handbags. The opening balance of XYZ Pvt Ltd's franking account on 1 July 2010 was $nil. During the 201




What is the total after-tax annual cost of a machine producing bolts with a first cost of $45,000 and operating and maintenance costs of $0.22 per unit per day? It will be sold for

what are the three of product costs in manufacturing company,discuss in detail each and supporting with examples.