How can we calculate the price variance of the material used in production?

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Materials purchase price variance?
Posted by:
Anayatullah Tahir
24-March-2014

Accounting Variance Analysis

Question added by Deleted user
Date Posted: 2013/06/19

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2 Answers

by manaf almas , Auditor , DAR AL NUZUM PUBLIC ACCOUNTANTS

PRICE VARIANCE=(STANDARED RATE *ACTUAL QUANTITY)-(ACTUAL RATE - ACTUAL QUANTITY)

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by Henry Kiwara , Accountant , Joe's Electrical

Material Price Variance = (standard Price - Actual price) x Actaul Quatity bought/sold

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