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Dear all,
For Material Px Variance we need to take difference from actual px and actual px @ standard cost
or
budget px and actual px @ standard cost?hi Sarahlim,
I checked that question ,I did it like this
53000kg material should cost(*2.5)=132500
but they actually costed =136000
so adverse price variance is 3500.
its the difference between actual units at standard cost and the what it actually costed.Hope this makes sense.
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