In a manufacturing operation this is material’s standard cost minus material used actual cost. A company calculates that the materials needed to manufacture one of its products costs $5, as an example. The actual cost during a certain period is $6. The company discovers that The materials quantity variance is $1 times the number of units manufactured.
What is MATERIALS QUANTITY VARIANCE (MQV)?
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- What is the Security Exchange Commission?
- Restitution Law – What it is, How to Avoid it, and Tips on Asking for It
- Should I Freeze My Credit?
- Living Will – The Pros & Cons You Need to Know
- What does it mean to be acquitted?
- Forming an LLC in Missouri
- Double Jeopardy Law
- How To Take Someone To Small Claims Court
- What is Jury Nullification?
- Guide to Court Ordered Mediation
- What Is A Police Welfare Check?
- Best Way to Find Someone in Jail for Free
- How to Transfer a Car Title When The Owner Is Deceased
- How To Find A Name & Address Using A License Plate Number
- Best Way to Write a Professional Letter to a Judge
- How To Find An Inmate’s Release Date
- What Can You Do At 18 Legally?
- Signing a Letter on Someone Else’s Behalf
- How Do You Look up License Plate Numbers?
- Why Do Policemen Touch Your Tail Light When They Pull You Over?