The direct materials quantity variance is calculated using which three amounts?
A)Actual quantity used, standard quantity allowed for actual production, actual price paid
B)Actual quantity used, standard quantity allowed for actual production, standard price allowed
C)Standard quantity used, actual price paid, standard price paid
D)Actual quantity used, actual price paid, standard price paid

Question

Quizplus · Accepted Answer

The direct materials quantity variance is calculated using the actual quantity used, the standard quantity allowed for actual production, and the standard price allowed. This variance measures the difference between how much material was actually used versus how much should have been used, valued at the standard cost per unit of material.

The Direct Materials Quantity Variance Is Calculated Using Which Three