Direct material yield variance (myv), Cost Accounting

Assignment Help:

Direct material yield variance (MYV) :  

It has been described by the ICMA, London, as 'the variation between the standard yield of the actual material input and the actual yield, both valued at the standard material cost of the product'.

MYV = Standard yield rate (Standard yield - Actual yield) (or) Standard Revised rate (Actual loss - Standard loss),

Where standard revised rate = Standard cost of standard mix

                                                   Net standard output


Related Discussions:- Direct material yield variance (myv)

Standard costing, STANDARD COSTING STANDARD COSTING is a method, which ...

STANDARD COSTING STANDARD COSTING is a method, which uses standards for costs and revenues for the idea of control by variance analysis. It can be used either through operation

Assignment, Ed Mettway was concerned about his firm''s ability to acquire t...

Ed Mettway was concerned about his firm''s ability to acquire the necessary property, plant, and equipment to take advantage of steadily increasing sales. Touring Enterprises, esta

Cash flows statement, What type of activity could a company engage in to im...

What type of activity could a company engage in to improve their cash flows in their Cash Flows Statement? Is this ethical? Could borrowing money make the cash from operations be

Limitations of cvp analysis, Limitations of CVP Analysis The make use ...

Limitations of CVP Analysis The make use of the basic CVP model is just only relevant to planning and decision-making in an activity range whether the basic cost and revenue b

what is your corporate cost of capital , You are the CFO of a Hospital. Su...

You are the CFO of a Hospital. Suppose that your projected average daily reimbursement is $100, 000 and your average collection day is 40 days. What is your hospital's annual cost

Calculate the variable cost, Workmen shoes accumulated the following produc...

Workmen shoes accumulated the following production and cost data for the past 5 months. i)  Using the high/low method calculate the variable cost per unit and the fixed cos

Capital project, is sale of salvage from capital project recorded as gain/l...

is sale of salvage from capital project recorded as gain/loss or applied back to project costs

Calculate the total variable cost of 6, A company has developed a new produ...

A company has developed a new product which it will launch next month. During the initial production phase the company expects to produce 6,400 units in batches of 100 units. The f

Process losses, Process Losses Most manufacturing processes result in ...

Process Losses Most manufacturing processes result in several portion of the raw materials utilized not being transformed into a reliable half losses.  These losses may take t

Job-order costing system.., Compute the predetermined overhead rate used du...

Compute the predetermined overhead rate used during the year in the Preparation and Fabrication Departments.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd