The difference between the actual quantity and the standard quantity multiplied by the standard pric...........

Costing - Phase (I & II) Methods of Costing

The difference between the actual quantity and the standard quantity, multiplied by the standard price of materials purchased is the:

Direct labor price variance

Direct labor quantity variance

Direct materials price variance

Direct materials quantity variance

Material Quantity Variance (MQV)= Standard Price (Standard Quantity – Actual Quantity)

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