Material Cost Variance in Financial Formulas

Material Cost Variance assesses the difference between the actual cost of materials used in production and the standard cost of materials that should have been used for the actual production output. And is denoted by MCV.

Formulas to find Material Cost Variance in Financial

fxMaterial Cost VarianceGo

List of variables in Financial formulas

fx Standard Quality for Actual Output Go

fx Standard Price Go

fx Actual Quantity Go

fx Actual Price Go

FAQ

What is the Material Cost Variance?

Material Cost Variance assesses the difference between the actual cost of materials used in production and the standard cost of materials that should have been used for the actual production output.

Can the Material Cost Variance be negative?

{YesorNo}, the Material Cost Variance, measured in {OutputVariableMeasurementName} {CanorCannot} be negative.

Let Others Know

✖

Facebook

Twitter

Copied!