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Material Price Variance in Financial Formulas
Material Price Variance is the difference between the actual price paid to acquire a direct materials item and its budgeted price. And is denoted by MPRV.
Formulas to find Material Price Variance in Financial
f
x
Material Price Variance
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List of variables in Financial formulas
f
x
Actual Quantity
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f
x
Standard Price
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f
x
Actual Price
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FAQ
What is the Material Price Variance?
Material Price Variance is the difference between the actual price paid to acquire a direct materials item and its budgeted price.
Can the Material Price Variance be negative?
{YesorNo}, the Material Price Variance, measured in {OutputVariableMeasurementName} {CanorCannot} be negative.
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