MMV = Material Mix Variance = (SP x SQ) – (AQ x AC)<\/li>\n<\/ul>\nWhere:
\n* SP = Selling Price per unit
\n* RSQ = Standard Quantity allowed for actual production
\n* SQ = Standard Quantity per unit
\n* AQ = Actual Quantity used
\n* AP = Actual Price per unit
\n* AC = Actual Cost per unit<\/p>\n
The MCV is the difference between the actual cost of materials used and the standard cost of materials that should have been used. It is caused by variances in the actual quantity of materials used, the actual price of materials, or both.<\/p>\n
The MPV is the difference between the actual price of materials used and the standard price of materials that should have been used. It is caused by a change in the market price of materials.<\/p>\n
The MUV is the difference between the actual quantity of materials used and the standard quantity that should have been used. It is caused by a change in the efficiency of the production process.<\/p>\n
The MMV is the difference between the standard cost of materials that should have been used and the actual cost of materials used. It is caused by a change in the mix of materials used.<\/p>\n","protected":false},"excerpt":{"rendered":"
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