Dictionary of Accounting Terms: materials quantity (USAGE) variance
materials quantity (USAGE) variance
difference between the actual quantity of materials used in production and the standard quantity of materials allowed for actual production, multiplied by the standard price per unit. Materials quantity variance = (actual quantity - standard quantity) x standard price per unit. The variance is unfavorable if the actual quantity exceeds the standard quantity; it is favorable if the actual quantity is less than the standard.
