Which formula is used to calculate the materials usage variance?
A) (actual price × actual quantity) - (standard price × actual quantity)
B) (actual price × standard quantity) - (standard price × actual quantity)
C) (standard price × actual quantity) - (standard price × standard quantity)
D) (standard price × standard quantity) - (standard price × actual quantity)

Question

Quizplus · Accepted Answer

The Answer of Which formula is used to calculate the materials usage variance?
A) (actual price × actual quantity) - (standard price × actual quantity)
B) (actual price × standard quantity) - (standard price × actual quantity)
C) (standard price × actual quantity) - (standard price × standard quantity)
D) (standard price × standard quantity) - (standard price × actual quantity)

Which Formula Is Used to Calculate the Materials Usage Variance