what is direct material cost variance it can be, Managerial Accounting

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what is direct material cost variance it can be

What is Direct material cost variance

It can be defined as the difference between the standard costs of direct material specified and the actual cost of direct material used. This variance has two components:

1)   Material price variance
2)   Material usage variance
a)   Material mix variance
b)   Material yield variance

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Managerial Accounting: what is direct material cost variance it can be

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