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Asked Dec 24, 2019
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How might a manager gain insight into the causes of a flexible-budget variance for direct materials?

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Variance is the difference in the value of budgeted cost\quantity and the actual cost\quantity. Direct Material C...

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Material Variances Material Price Variance = Actual Quantity (Actual price – Standard Price) Material Efficiency Variance = Standard cost per pound ( Actual material – standard material) Material Cost Variance = Actual Cost – Standard Cost

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