What is direct material cost variance, Managerial Accounting

Assignment Help:

What is Direct material cost variance

It can be defined as the difference between the standard costs of direct material specified and the actual cost of direct material used. This variance has two components:

1)   Material price variance
2)   Material usage variance
a)   Material mix variance
b)   Material yield variance

Related Discussions:- What is direct material cost variance

Determine the proprietary ratio and equity ratio, Proprietary ratio/ equit...

Proprietary ratio/ equity ratio Meaning: the ratio measures a relationship among proprietor's funds and the total assets. Objective: the objective of computing this ra

FIFO, I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO

I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO

Learning curve theory, LEARNING CURVE THEORY The first time a new opera...

LEARNING CURVE THEORY The first time a new operation is performed both workers and operating procedures are untried but as the operation is replaced the workers becomes more fa

Explain the mark up pricing, Full cost or mark up pricing or cost plus pric...

Full cost or mark up pricing or cost plus pricing method: In this method the marketer estimates the total cost of producing or manufacturing the product and then adds it a mar

Explain the shut down cost, Explain the Shut down cost A cost which wi...

Explain the Shut down cost A cost which will be still be required to be incurred even though a plant is closed or shut down for a temporary period. Ffor example the cost of

Choosing order quantity , CHOOSING ORDER QUANTITY (SIZE—PROBLEM) The ob...

CHOOSING ORDER QUANTITY (SIZE—PROBLEM) The objective of inventory decisions is usually to minimize total inventory costs to the company. Costs are ascribed to all elements whic

Determine the scope and areas of cost reduction, Determine the Scope and ar...

Determine the Scope and areas of cost reduction Scope and areas of cost reduction the scope of cost reduction is so wide that it is not practicable to develop fully the areas i

The roles of management accounting within a company., Review the roles of m...

Review the roles of management accounting within a company. 1.What is the most important role of management accounting? 2.How is that different than financial accounting? 3.What is

Quantitative , whats a zero sum game

whats a zero sum game

Budgets and budgetary control., static budget

static budget

Write Your Message!

Name

Email id

Message

Verfication Code

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!

Submit Assignment

User Account

All Pages