Price Variance Calculator
Price variance helps to find the result of an unpredicted change in the direct material cost would disturb the overall cost. So we can categorize the price here into two types,
1. Standard Price
that you planned to pay per unit of direct material.
2. Actual Price
is the actual price that you paid per unit of direct material.
With the help of standard and actual price you will be able to find the price variance using the below formula:
Enter the standard price, actual price and actual quantity in the below calculator and click calculate to find the price variance.
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