The reconciliation statement is as follows: $ Flexed budget material 9,000 units x 1,701,000 cost (original standard) $189 Material price planning 36,000kg x ($25/kg 72,000 favourable variance--ingredient A - $23/kg) Material price planning 27,000kg x ($22/kg 54,000 favourable variance--ingredient B - $20/kg) Flexed budget material 1,575,000 cost (revised standard) Material price operational (35,000kg x 105,000 adverse variance--ingredient A $23/kg) - $910,000 Material price operational (28,000kg x 70,000 adverse variance--ingredient B $20/kg) - $630,000 Material price variance (27,000kg x 14,500 favourable -ingredient C $11.
What does MPV stand for?
MPV stands for Material Price Variance
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of MPV
We have 76 other meanings of MPV in our Acronym Attic
- Mississippi Public Utilities Staff
- Monterey Peninsula Unified School District (California)
- Mission Peak Unitarian Universalist Congregation (Fremont, CA)
- Multi-Purpose Utility Vehicle
- Madhya Pradesh Urja Vikas Nigam Ltd. (energy conservation)
- Major Projects Victoria (Australia)
- Marine Protection Vessel (UK)
- Market Potential Value (micromarket index)
- Mars Piloted Vehicle
- MassMutual Participation Investors (Springfield, MA)
- Mean Platelet Volume (blood test)
- Mechanically Propelled Vehicle
- Meerwein-Ponndorf-Verley (organic chemistry)
- Membrane Pressure Vessel
- Military Pay Voucher
- Mine Protected Vehicle
- Minimum Price Variation (smallest increment of a stock price)
- Ministria e Pushtetit Vendor (Albanian: Ministry of Local Government)
- MIPCC Powered Vehicle (DARPA)
- Mobile Packaging Van (LANL)
Samples in periodicals archive:
The danger is that one of these underlying causes may have a large favourable effect on the material price variance while another may have a large unfavourable effect.
Instead of a material price variance, we can calculate a champagne price variance.