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What is Material Yield Variance?
Before explaining the entire concept, it is important to mention that MYV or Material Yield Variance is the most important component of accounting management. It is actually defined as the portion of material usage variance which comes from the output of difference between the actual yield and standard yield. Learners can get more help on this tool through Material Yield Variance assignment help.
How it is different from other variances?
It is true that every in accounting has its implications and usage so does material yield variance have. Actually, MYV is different from other materialvariances because most of the other variances are based on input but MYV is based on output.
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Formula for calculating Material Yield Variance
Learners pursuing with accounting management course have to calculate the MYV in order to get the proper results for their respective sums. There is a proper formula for calculating Material Yield Variance, and it is-
MYV = (AY – SY) x SC where AY stands for Actual yield, SC stands for Standard cost per unit and SY stands for Standard yield.
It is also important to note for the learners that if the result obtained from the calculation is in positive, then it is considered as favorable and if the result is in negative figure then it unfavorable. Learners facing problem with the calculation part can take Material Yield Variance assignment help from the experts of myhomeworkhelp.com.
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