## Material Quantity Solution

STEP 0: Pre-Calculation Summary
Formula Used
Material Quantity = Standard Price*(Standard Quantity-Actual Quantity)
MQ = STP*(SQ-ACQ)
This formula uses 4 Variables
Variables Used
Material Quantity - Material Quantity is the difference between the actual quantity of materials and the standard quantity of materials based on the level of production achieved.
Standard Price - Standard Price refers to the predetermined cost per unit of a particular material based on factors such as historical data, market prices, negotiated contracts, or internal cost estimates.
Standard Quantity - Standard Quantity refers to the predetermined amount of materials that should be used for a specific level of production or output.
Actual Quantity - Actual Quantity refers to the real amount or volume of a specific item, material, product, or resource used, consumed, produced, or acquired within a certain timeframe.
STEP 1: Convert Input(s) to Base Unit
Standard Price: 855 --> No Conversion Required
Standard Quantity: 100 --> No Conversion Required
Actual Quantity: 95 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
MQ = STP*(SQ-ACQ) --> 855*(100-95)
Evaluating ... ...
MQ = 4275
STEP 3: Convert Result to Output's Unit
4275 --> No Conversion Required
4275 <-- Material Quantity
(Calculation completed in 00.004 seconds)
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## Credits

Created by Aashna
IGNOU (IGNOU), India
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## < 25 Cost Accounting Calculators

Material Cost Variance
Material Cost Variance = (Standard Quality for Actual Output*Standard Price)-(Actual Quantity*Actual Price)
Labour Cost Variance
Labour Cost Variance = (Standard Hours for Actual Output*Standard Rate)-(Actual Hours*Actual Rate)
Revised Standard Quantity
Revised Standard Quantity = (Standard Quantity of each Material/Total Standard Quantity)*Total Actual Quantity
Learning Curve
Learning Curve = (Time Taken to Produce Initial Quantity*Cumulative Number of Batches)^(-Learning Coefficient)
Labour Efficiency Variance
Labour Efficiency Variance = Standard Rate*(Standard Time-Actual Time)*Variance
Time to Receive = Time for Stock Validation+Time to Add Stock to Records+Time to Prep Stock for Storage
Labour Rate Variance
Labour Rate Variance = Actual Time*(Standard Rate-Actual Rate)*Variance
Cycle Time
Cycle Time = Process Time+Inspection Time+Move Time+Queue Time
Revised Standard Hours of Labours
Revised Standard Hours of Labours = (Actual Mix/Standard Mix)*(Standard Hours of Labour)
Material Yield Variance
Material Yield Variance = (Actual Unit Usage-Standard Unit Usage)*Standard Cost per Unit
Overall Equipment Effectiveness
Overall Equipment Effectiveness = Good Count*Ideal Cycle Time/Planned Production Time
Avoided Cost
Avoided Costs = Assumed Repair Cost+Production Losses-Preventative Maintenance Cost
Material Usage Variance
Material Usage Variance = Standard Price*(Actual Quantity Units-Standard Quantity)
Labour Mix Variance
Labour Mix Variance = Standard Rate*(Reversed Standard Rate-Actual Time)
Material Price Variance
Material Price Variance = Actual Quantity*(Standard Price-Actual Price)
Material Quantity
Material Quantity = Standard Price*(Standard Quantity-Actual Quantity)
Customer Acquisition Cost
Customer Acquisition Cost = Cost of Sales and Marketing/Number of New Customers Acquired
Total Addressable Market = Annual Contract Value per Client*Number of Potential Clients
First Pass Yield
First Pass Yield = Number of Good Products Finished/Number of Production Orders Started
Average Days Delinquent
Average Days Delinquent = Days Sales Outstanding-Best Possible Days Sales Outstanding
Backorder Rate
Backorder Rate = (Number of Undeliverable Orders/Total Number of Orders)
Monthly Recurring Revenue
Monthly Recurring Revenue = Number of Customers*Average Billed Amount
Sell -Through Rate
Sell Through Rate = Number of Units Sold/Number of Units Received
Takt Time
Takt Time = Production Available Time/Customer Demand
On-Time Delivery
On-Time Delivery = On Time Units/Total Units

## Material Quantity Formula

Material Quantity = Standard Price*(Standard Quantity-Actual Quantity)
MQ = STP*(SQ-ACQ)

## What is Material Quantity ?

Material Quantity compares the actual and expected direct material used in manufacturing a product. An unfavorable material quantity suggests that more materials were used in production than anticipated, which could be due to factors such as waste, inefficiencies, or poor production planning. Conversely, a favorable material quantity indicates that fewer materials were used than expected, leading to potential cost savings. Analyzing material quantity helps management identify areas for improvement in production processes, inventory management, and resource utilization. It also provides insights into the effectiveness of production planning and control measures. However, similar to material price variance, it's essential to consider other factors that may influence material usage, such as changes in production methods or quality standards.

## How to Calculate Material Quantity?

Material Quantity calculator uses Material Quantity = Standard Price*(Standard Quantity-Actual Quantity) to calculate the Material Quantity, Material Quantity is the difference between the actual amount of materials used and the amount that was expected to be used. Material Quantity is denoted by MQ symbol.

How to calculate Material Quantity using this online calculator? To use this online calculator for Material Quantity, enter Standard Price (STP), Standard Quantity (SQ) & Actual Quantity (ACQ) and hit the calculate button. Here is how the Material Quantity calculation can be explained with given input values -> 4275 = 855*(100-95).

### FAQ

What is Material Quantity?
Material Quantity is the difference between the actual amount of materials used and the amount that was expected to be used and is represented as MQ = STP*(SQ-ACQ) or Material Quantity = Standard Price*(Standard Quantity-Actual Quantity). Standard Price refers to the predetermined cost per unit of a particular material based on factors such as historical data, market prices, negotiated contracts, or internal cost estimates, Standard Quantity refers to the predetermined amount of materials that should be used for a specific level of production or output & Actual Quantity refers to the real amount or volume of a specific item, material, product, or resource used, consumed, produced, or acquired within a certain timeframe.
How to calculate Material Quantity?
Material Quantity is the difference between the actual amount of materials used and the amount that was expected to be used is calculated using Material Quantity = Standard Price*(Standard Quantity-Actual Quantity). To calculate Material Quantity, you need Standard Price (STP), Standard Quantity (SQ) & Actual Quantity (ACQ). With our tool, you need to enter the respective value for Standard Price, Standard Quantity & Actual Quantity and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.
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