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How to calculate material quantity variance?

Understand the Problem

The question is asking for the method to calculate material quantity variance, which is a concept in cost accounting that helps in analyzing the difference between the actual quantity of materials used and the standard quantity expected to be used for production.

Answer

$250

The final material quantity variance is $250

Answer for screen readers

The final material quantity variance is $250

More Information

Material quantity variance helps in determining the efficiency of material usage during production. A positive variance (actual quantity used is greater than standard quantity) is unfavorable, and a negative variance (actual quantity used is less than standard quantity) is favorable.

Tips

Ensure to use the correct units and double-check calculations to avoid errors.

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