Direct materials quantity variance calculator

Standard price per unit:
Actual quantity used:
Standard quantity allowed:
Please like us on facebook

How to use direct materials quantity variance calculator:

Inputs to be provided:

Standard price per unit:
Standard price per unit is the standard price of a unit of direct materials that is determined at the time when direct materials price and quantity standards are set for a forthcoming period. Setting standards is a part of overall budgeting process.

Actual quantity used:
The units of direct materials actually used to manufacture a certain number of units of finished product.

Standard quantity allowed:
The number of units of direct materials allowed by standards to manufacture a certain number of units of finished products. For example, if you have produced 100 units of finished product and the standard quantity to manufacture a single unit of finished product is 2 units of direct materials then the standard quantity allowed would be 200 (100 × 2) units of direct materials.

Outputs to be generated:

The direct materials quantity variance calculator uses the above three inputs and calculates the following two figures for you:

Direct materials quantity variance in units:
It is the difference between actual quantity used and standard quantity allowed – the variance of quantity only.

Direct materials quantity variance in dollars:
The quantity variance is multiplied by the standard price and translated into a favorable or unfavorable direct materials quantity variance in dollars.

Prev
Next
Show your love for us by sharing our contents.

One Comment on Direct materials quantity variance calculator

  1. Kimberly Smith

    I’m learning

Leave a comment