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13 March, 05:24

The materials quantity variance is the difference between: a. (AQ) x (AP) and (AQ) x (SP). b. (AQ) x (AP) and (SQ) x (SP). c. (AQ) x (SP) and (SQ) x (SP). d. (AQ) x (SP) and (SQ) x (AP).

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  1. 13 March, 08:40
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    c. (AQ) x (SP) and (SQ) x (SP).

    Explanation:

    The materials quantity variance is the difference between (AQ) x (SP) and (SQ) x (SP).

    The difference between the actual quantity at standard price and the standard cost (SQ x SP) is the direct materials quantity variance.

    A material quantity variance is the difference between the actual amount of materials used in the production process and the amount that was expected to be used. The measurement is employed to determine the efficiency of a production process in converting raw materials into finished goods.
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