This form helps you to compare two amounts: 1) the actual cost that a company paid to suppliers for materials, compared to 2) the company's standard cost of those materials. The difference is the favorable or unfavorable purchase price variance for the materials received.
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For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.
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