Define material usage variance, Managerial Accounting

Assignment Help:

Material usage variance

Difference among standard quantity of material and actual quantity used is the material usage variance. This variance arises due to:

Economic use of materials

Use of substitutes

Higher/less wastage of materials

Changes in designs or specification of product

 


Related Discussions:- Define material usage variance

Decision making process, Decision Making Process Decision making is the...

Decision Making Process Decision making is the process of choosing among alternatives. There are 7 steps that should be followed as shown in figure below:   Figure:

Budget, You recently began a job as an accounting intern at Indoor Racing L...

You recently began a job as an accounting intern at Indoor Racing Ltd. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with

Determine current budgets, Explain Current budgets Current budgets: the...

Explain Current budgets Current budgets: the period of current begets is generally of months and weeks. These budget relate to the current activities of the business. According

Standard costing .., the applicability of standard costing in modern manufa...

the applicability of standard costing in modern manufacturing environments in volatile environments

Transfer pricing , Western States Supply, Inc. (WSS), consists of three div...

Western States Supply, Inc. (WSS), consists of three divisions—California, Northwest, and Southwest—that operate as if they were independent companies. Each division has its own sa

Compute the expected return and risk of a portfolio, Compute the Expected R...

Compute the Expected Return and Risk of a Portfolio? The subsequent data are presented to you as a portfolio manager Security Expected Return

Marginal and absorption costing, How marginal costing would improve the pro...

How marginal costing would improve the problems faced in absorption costing on manipulation of profits.

Calculate the eoq, Calculate the EOQ An agent supplies 1000 units per ...

Calculate the EOQ An agent supplies 1000 units per calendar month (PCM) OF A PRODUCT TO CONSUMER. The cost per unit is £175 and the amount cost of storage space is £40. Associ

Budget, advantage and disadvantage of incremental budget

advantage and disadvantage of incremental budget

Labor standard, Describe the impact of different types of standards on moti...

Describe the impact of different types of standards on motivations and specifically,the likely effect on motivation of adopting the labor standard recommended?

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