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material yield variance |
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Definition of material yield variancematerial yield variance(standard mix X actual quantity X standard price) - (standard mix X standard quantity X standard price);
Related Terms:Advance material requestVery early orders for materials before the completion Annual percentage yield (APY)The effective, or true, annual rate of return. The APY is the rate actually Bill of materialsA listing of all the materials and quantities that go to make up a completed product. bill of materialsa document that contains information about Bill of materialsAn itemization of the parts and subassemblies required to create a Bill of materials (BOM)A listing of all parts and subassemblies required to produce one Bond equivalent yieldBond yield calculated on an annual percentage rate method. Differs from annual Bond-equivalent yieldThe annualized yield to maturity computed by doubling the semiannual yield. Bond Equivalent YieldBond yield calculated on an annual percentage rate method Breeder bill of materialsA bill of material that accounts for the generation and budget variancethe difference between total actual overhead Capital gains yieldThe price change portion of a stock's return. controllable variancethe budget variance of the two variance approach to analyzing overhead variances Convenience yieldThe extra advantage that firms derive from holding the commodity rather than the future. Coupon equivalent yieldTrue interest cost expressed on the basis of a 365-day year. CovarianceA statistical measure of the degree to which random variables move together. CovarianceA measure of the degree to which returns on two assets move in Current yieldFor bonds or notes, the coupon rate divided by the market price of the bond. current yieldAnnual coupon payments divided by bond price. Current YieldThe percentage return on a financial asset based on the current price of the asset, without reference to any expected change in the price of the asset. This contrasts with yield-to-maturity, for which the calculation includes expected price changes. See also yield. direct materiala readily identifiable part of a product; the cost of such a part Direct materials costThe cost of all materials used in a cost object, such as finished goods. Direct materials mix varianceThe variance between the budgeted and actual mixes of Dividend yield (Funds)Indicated yield represents return on a share of a mutual fund held over the past 12 dividend yield ratioCash dividends paid by a business over the most Dividend yield (Stocks)Indicated yield represents annual dividends divided by current stock price. Earmarked materialInventory that has been physically marked as being for a Earnings yieldThe ratio of earnings per share after allowing for tax and interest payments on fixed interest Effective annual yieldAnnualized interest rate on a security computed using compound interest techniques. Effective Annual YieldAnnualized rate of return on a security computed using compound Equivalent bond yieldAnnual yield on a short-term, non-interest bearing security calculated so as to be Equivalent taxable yieldThe yield that must be offered on a taxable bond issue to give the same after-tax fixed overhead spending variancethe difference between the total actual fixed overhead and budgeted fixed overhead; fixed overhead volume variancesee volume variance Flattening of the yield curveA change in the yield curve where the spread between the yield on a long-term High-yield bondSee:junk bond. Indented bill of materialA bill of material reporting format under which successively Indicated yieldThe yield, based on the most recent quarterly rate times four. To determine the yield, divide labor efficiency variancethe number of hours actually worked minus the standard hours allowed for the production Labor efficiency varianceThe difference between the amount of time that was budgeted labor mix variance(actual mix X actual hours X standard rate) - (standard mix X actual hours X standard rate); labor rate variancethe actual rate (or actual weighted average rate) paid to labor for the period minus the standard rate multiplied by all hours actually worked during the period; Labor rate varianceThe difference between the actual and standard direct labor rates labor yield variance(standard mix X actual hours X standard rate) - (standard mix X standard hours X standard rate); Liquid yield option note (LYON)Zero-coupon, callable, putable, convertible bond invented by Merrill Liquid yield option note (LYON)Zero-coupon, callable, putable, convertible bond invented by Merrill Lynch & Co. material mix variance(actual mix X actual quantity X standard price) - (standard mix X actual quantity X standardprice); material price variancetotal actual cost of material purchased material quantity variance(actual quantity X standard price) - (standard quantity allowed standard price); Material requirements planningA computerized system used to calculate material Material requirements planning (MRP)A computer-driven production methodology material requisition forma source document that indicates Material review boardA company committee typically comprising members representing MaterialityThe proportional size of a financial misstatement. It can be construed as MaterialityA characterization of the magnitude of a financial statement item's effect on a Materials price varianceThe difference between the actual and budgeted cost to Materials quantity varianceThe difference between the actual and budgeted quantities Materials requirement planningComputer-based systems that plan backward from the production schedule materials requirements planning (MRP)a computerbased information system that simulates the ordering and Materials requisitionA document listing the quantities of specific parts to be withdrawn Matrix bill of materialA bill of materials chart listing the bills for similar products, Mean-variance analysisEvaluation of risky prospects based on the expected value and variance of possible outcomes. Mean-variance criterionThe selection of portfolios based on the means and variances of their returns. The Mean-variance efficient portfolioRelated: Markowitz efficient portfolio Minimum-variance frontierGraph of the lowest possible portfolio variance that is attainable for a given Minimum-variance portfolioThe portfolio of risky assets with lowest variance. Modular bill of materialA bill of material format in which components and subassemblies Multilevel bill of materialAn itemization of all bill of material components, including Non-parallel shift in the yield curveA shift in the yield curve in which yields do not change by the same Nonconforming materialAny inventory item that does not match its original design noncontrollable variancethe fixed overhead volume variance; Offal materialThe waste materials resulting from a production process. overhead efficiency variancethe difference between total budgeted overhead at actual hours and total budgeted overhead spending variancethe difference between total actual overhead and total budgeted overhead at actual Par yield curveThe yield curve of bonds selling at par, or face, value. Parallel shift in the yield curveA shift in the yield curve in which the change in the yield on all maturities is Phantom bill of materialA bill of materials for a subassembly that is not normally Portfolio varianceWeighted sum of the covariance and variances of the assets in a portfolio. process quality yieldthe proportion of good units that resulted from the activities expended Production yield varianceThe difference between the actual and budgeted proportions Pure yield pickup swapMoving to higher yield bonds. Raw materialBase-level items used by the manufacturing process to create either Raw material supply agreementAs used in connection with project financing, an agreement to furnish a Raw materialsUnprocessed goods bought for manufacture, part of inventory. Raw materials inventoryThe total cost of all component parts currently in stock that Realized compound yieldyield assuming that coupon payments are invested at the going market interest Relative yield spreadThe ratio of the yield spread to the yield level. Reoffering yieldIn a purchase and sale, the yield to maturity at which the underwriter offers to sell the bonds Repair bill of materialA special bill itemizing changes needed to refurbish an Reprocessed materialmaterial that has been reworked and returned to stock. Required yieldGenerally referring to bonds, the yield required by the marketplace to match available returns Reserved materialmaterial that has been reserved for a specific purpose. Riding the yield curveBuying long-term bonds in anticipation of capital gains as yields fall with the Selling price varianceThe difference between the actual and budgeted selling price for Serial covarianceThe covariance between a variable and the lagged value of the variable; the same as Single-level bill of materialA list of all components used in a parent item. Spot curve, spot yield curveSee Zero curve. Steepening of the yield curveA change in the yield curve where the spread between the yield on a long-term Summarized bill of materialsA bill of materials format showing the grand total
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