Direct material yield variance (myv), Cost Accounting

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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


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