direct material variance definition

direct material variance

The difference between the budgeted material cost for a product and the actual material costs after production. The direct material variance is broken into two categories: direct material price variance and direct material usage variance.

direct material variance is in the Industries, Manufacturing, & Technology, Planning & Scheduling and Statistics, Mathematics, & Analysis subjects.

direct material variance appears in the definitions of the following terms: direct material price variance and direct material usage variance

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