The difference between the actual price and the standard price multiplied by the actual quantity of ...........

Costing - Phase (I & II) Methods of Costing

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

Direct labor price variance

Direct labor quantity variance

Direct materials price variance

Direct materials quantity variance

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

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