Direct material yield variance (myv), Cost Accounting

Assignment Help:

Direct material yield variance (MYV) :  

It has been described by the ICMA, London, as 'the variation between the standard yield of the actual material input and the actual yield, both valued at the standard material cost of the product'.

MYV = Standard yield rate (Standard yield - Actual yield) (or) Standard Revised rate (Actual loss - Standard loss),

Where standard revised rate = Standard cost of standard mix

                                                   Net standard output


Related Discussions:- Direct material yield variance (myv)

Features of jit, What are the major features of JIT?

What are the major features of JIT?

Determine cost per unit using marginal & absorption costing, Determine Cost...

Determine Cost per Unit By Using Marginal and Absorption Costing The given information was extracted from the book of a company for the year ended on date 31/12/2001. Outpu

Contribution, CONTRIBUTION : It is the variation between the marginal cost ...

CONTRIBUTION : It is the variation between the marginal cost of sales and sales and it contributes towards fixed profit and expenses.  It is differ from the profit which is the net

Applications of marginal costing, what is the importance and assumptions of...

what is the importance and assumptions of application of marginal costing

Overhead anaylysis, the annual overhead costs for abc ltd which has 3 produ...

the annual overhead costs for abc ltd which has 3 production centeres and 2 service centers are as follows. indirect wages & supervision X 2million Y 2million 3 production departme

Compute the break even point, Park & Morgan, a law firm, is considering ope...

Park & Morgan, a law firm, is considering opening a legal clinic for midde- and low income clients. The clinic would bill at a rate if $18 per hour. It would employ law students as

Calculate the amount of annual investment return rates, Using the table bel...

Using the table below, calculate the amount of overall increase of your purchasing power over the period of 5 years given the annual investment return rates and annual inflation ra

Methods required to allocate joint costs, Methods Required To Allocate Join...

Methods Required To Allocate Joint Costs 1) Physical/Unit Measure 2) Constant gross margin rate 3) Net realizable value.

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