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What is the formula for calculating the direct materials price variance?

Practice Questions

1 question
Q1
What is the formula for calculating the direct materials price variance?
  1. (Actual Price - Standard Price) x Actual Quantity
  2. (Standard Price - Actual Price) x Standard Quantity
  3. (Actual Quantity - Standard Quantity) x Standard Price
  4. (Standard Quantity - Actual Quantity) x Actual Price

Questions & Step-by-step Solutions

1 item
Q
Q: What is the formula for calculating the direct materials price variance?
Solution: The direct materials price variance is calculated using the formula: (Actual Price - Standard Price) x Actual Quantity.
Steps: 0

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