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Define Materials cost variance
Material cost variance (MCV) is the difference between the standard cost of material specified and the actual cost of materials used." It is the total variance caused by the variations in prices of materials, usage or mix, yield and other causes.
If the standard cost is more than the actual cost the variance will be favorable and on the other hand if the actual cost is more than the standard cost the variance will be unfavorable or adverse.
Objectives of the cost accounting The Objectives of the cost accounting are ascertain of costs, fixation of selling prices, proper recording and presentation of cost data to th
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tell me how go about charging for your services
cases with solution..
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monetaryor non monetary which will arise as aresult of implemenntinng the project
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