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

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

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

AYYALA  RAJESH KUMAR
by AYYALA RAJESH KUMAR , GENERAL MANAGER - ACCOUNTS & FINANCE , CUE APPARELS PVT LTD

This is basically difference between standard costing  V/s backward costing ( this includes actual cost paid and excess production cost )

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