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How can we calculate the price variance of the material used in production?

Accounting Variance Analysis
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Question added by Deleted user
Date Posted: 2013/06/19
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manaf almas
by manaf almas , Auditor , DAR AL NUZUM PUBLIC ACCOUNTANTS

PRICE VARIANCE=(STANDARED RATE *ACTUAL QUANTITY)-(ACTUAL RATE - ACTUAL QUANTITY)

Henry Kiwara
by Henry Kiwara , Accountant , Joe's Electrical

Material Price Variance = (standard Price - Actual price) x Actaul Quatity bought/sold

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