Accounting Dictionary - Letter D

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Direct materials efficiency variance
compares standard and actual quantities of direct materials used in production (i.e., materials put in production represent input quantity). Direct materials efficiency variance is the difference between the actual quantity of materials used and the standard quantity that should have been used at the actual production level, multiplied by the standard price.
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