Material usage variance (muv), Cost Accounting

Assignment Help:

Material Usage Variance (MUV):

This is the variation between the actual quantity of material consumed and standard quantity which should have been consumed, expressed in terms of the standard price of the material.

MUV = Standard price (Standard quantity for actual production - Actual quantity used)

Reasons for usage variance may be

  • Carelessness in the use of material
  • Defective material
  • Wastages caused by bad methods or bad workmanship
  • Non-standard mix of materials used
  • vary in the quality of materials used

Related Discussions:- Material usage variance (muv)

Process losses, Process Losses Most manufacturing processes result in ...

Process Losses Most manufacturing processes result in several portion of the raw materials utilized not being transformed into a reliable half losses.  These losses may take t

Calculate cost of goods sold under throughput costing, The follow data rela...

The follow data relates to year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dire

Accelerated cost recovery system - acrs, ACRS is a system of depreciation s...

ACRS is a system of depreciation started by the Economic Recovery Tax Act of 1981. ACRS depreciation relies on recovery periods in spite of useful life. These periods were preset b

Cgs, asdfdf afd s

asdfdf afd s

Cash cycle, The Cash Cycle: so as to deal with the problem of cash managem...

The Cash Cycle: so as to deal with the problem of cash management we should have a concept about the flow of cash by a firm's accounts. The entire process of such cash flow is ide

Internal control activities regarding replacement purchases, Your firm is t...

Your firm is the auditor of Easy Hire Pty Ltd (Easy Hire).the company hires out equipment to industries such as construction, engineering & event management. It has 76 branches nat

Cost-plus pricing, Computation of mark up and Target selling price in cost-...

Computation of mark up and Target selling price in cost-minus pricin

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