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Material variances

This topic has 3 replies, 2 voices, and was last updated 5 years ago by John Moffat.

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July 27, 2020 at 2:33 pm #578221
faiz9345
Participant
- Topics: 7
- Replies: 5
hi
i am having trouble finding the material variance. i am confused as what we should do. i would really appreciate some help.
The following information is available for direct material A for the month of June
Fixed budge $210,000
Actual cost $365,625
Flexed budget $262,500
What is the total direct materials variance for the month of June?
July 27, 2020 at 2:35 pm #578223
John Moffat
Keymaster
- Topics: 57
- Replies: 54795
The total materials variance is the difference between the actual cost and the flexed budget.
I do suggest that you watch my free lectures on variances. The lectures are a complete free course and cover everything needed to be able to pass the exam well.
July 27, 2020 at 2:44 pm #578232
faiz9345
Participant
- Topics: 7
- Replies: 5
Thank you soo much. I will definitely watch your free lectures.
July 27, 2020 at 6:58 pm #578311
John Moffat
Keymaster
- Topics: 57
- Replies: 54795
You are welcome, but if you are unclear about anything after watching the lectures then please so ask again 🙂
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