Material Yield Variance Calculator

✖Actual Unit Usage refers to the real amount of a resource or service consumed or utilized within a given period.ⓘ Actual Unit Usage [AU]			+10% -10%
✖Standard Unit Usage refers to the expected amount of a service consumed or utilized within a given period, based on predefined standards or benchmarks.ⓘ Standard Unit Usage [STU]			+10% -10%
✖Standard Cost per Unit refers to the predetermined cost assigned to produce or acquire a single unit of a product or service, based on established standards.ⓘ Standard Cost per Unit [STC]			+10% -10%

✖Material Yield Variance is a measure used in cost accounting to assess the difference between the actual quantity of finished products produced and the expected quantity based on the materials used.ⓘ Material Yield Variance [MYV]

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Formula

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Material Yield Variance

Formula

`"MYV" = ("AU"-"STU")*"STC"`

Example

`"335000"=("2500"-"2000")*"670"`

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Material Yield Variance Solution

STEP 0: Pre-Calculation Summary

Formula Used

Material Yield Variance = (Actual Unit Usage-Standard Unit Usage)*Standard Cost per Unit
MYV = (AU-STU)*STC
This formula uses 4 Variables

Variables Used

Material Yield Variance - Material Yield Variance is a measure used in cost accounting to assess the difference between the actual quantity of finished products produced and the expected quantity based on the materials used.
Actual Unit Usage - Actual Unit Usage refers to the real amount of a resource or service consumed or utilized within a given period.
Standard Unit Usage - Standard Unit Usage refers to the expected amount of a service consumed or utilized within a given period, based on predefined standards or benchmarks.
Standard Cost per Unit - Standard Cost per Unit refers to the predetermined cost assigned to produce or acquire a single unit of a product or service, based on established standards.

STEP 1: Convert Input(s) to Base Unit

Actual Unit Usage: 2500 --> No Conversion Required
Standard Unit Usage: 2000 --> No Conversion Required
Standard Cost per Unit: 670 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

MYV = (AU-STU)*STC --> (2500-2000)*670

Evaluating ... ...

MYV = 335000

STEP 3: Convert Result to Output's Unit

335000 --> No Conversion Required

FINAL ANSWER

335000 <-- Material Yield Variance

(Calculation completed in 00.004 seconds)

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Created by Aashna

IGNOU (IGNOU), India

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Verified by Keerthika Bathula

Indian Institute of Technology, Indian School of mines, Dhanbad (IIT ISM Dhanbad), Dhanbad

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Go Material Yield Variance = (Actual Unit Usage-Standard Unit Usage)*Standard Cost per Unit

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Material Yield Variance Formula

Material Yield Variance = (Actual Unit Usage-Standard Unit Usage)*Standard Cost per Unit
MYV = (AU-STU)*STC

What is Material Yield Variance ?

Material Yield Variance is the difference between the actual amount of material used and the standard amount expected to be used, multiplied by the standard cost of the materials. The standard unit usage is developed by the engineering staff. It is based on expected scrap rates in a production process, the quality of raw materials, losses during equipment setup, and related factors. An unfavorable variance means that the unit usage was greater than anticipated. If the material quality level changes, this can alter the quality rejections. If an entirely different material is substituted, this can also change the amount of rejections. Analyzing material yield variances helps management understand the efficiency of material usage in production processes. It allows them to identify factors such as wastage, inefficiencies in production processes, or deviations from expected material usage standards. This insight enables organizations to take corrective actions to improve efficiency and reduce costs.

How to Calculate Material Yield Variance?

Material Yield Variance calculator uses Material Yield Variance = (Actual Unit Usage-Standard Unit Usage)*Standard Cost per Unit to calculate the Material Yield Variance, Material Yield Variance is the difference between the standard cost of the actual input materials in the standard mix, compared to the standard cost of the standard quantity of input materials in the standard mix. Material Yield Variance is denoted by MYV symbol.

How to calculate Material Yield Variance using this online calculator? To use this online calculator for Material Yield Variance, enter Actual Unit Usage (AU), Standard Unit Usage (STU) & Standard Cost per Unit (STC) and hit the calculate button. Here is how the Material Yield Variance calculation can be explained with given input values -> 335000 = (2500-2000)*670.

FAQ

What is Material Yield Variance?

Material Yield Variance is the difference between the standard cost of the actual input materials in the standard mix, compared to the standard cost of the standard quantity of input materials in the standard mix and is represented as MYV = (AU-STU)*STC or Material Yield Variance = (Actual Unit Usage-Standard Unit Usage)*Standard Cost per Unit. Actual Unit Usage refers to the real amount of a resource or service consumed or utilized within a given period, Standard Unit Usage refers to the expected amount of a service consumed or utilized within a given period, based on predefined standards or benchmarks & Standard Cost per Unit refers to the predetermined cost assigned to produce or acquire a single unit of a product or service, based on established standards.

How to calculate Material Yield Variance?

Material Yield Variance is the difference between the standard cost of the actual input materials in the standard mix, compared to the standard cost of the standard quantity of input materials in the standard mix is calculated using Material Yield Variance = (Actual Unit Usage-Standard Unit Usage)*Standard Cost per Unit. To calculate Material Yield Variance, you need Actual Unit Usage (AU), Standard Unit Usage (STU) & Standard Cost per Unit (STC). With our tool, you need to enter the respective value for Actual Unit Usage, Standard Unit Usage & Standard Cost per Unit 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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