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direct materials total cost variance


'direct materials total cost variance' can also refer to...

 

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A combination of the direct materials price variance and the direct materials usage variance; it compares the actual cost and the standard cost of the direct material consumed in carrying out the actual production. The formula for this variance is:(standard price per unit of material × actual units of material consumed) – actual material cost.

(standard price per unit of material × actual units of material consumed) – actual material cost.

Subjects: Accounting.


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