How to calculate the Price variance of different product groups?
PORate is the rate of the product in the purchase order, BillRate is the rate of the product in the bill and GRNQuantity is the product quantity in the goods received note.
UDDC Name : Price Variance
UDDC Formula : ((PORate - BillRate)* GRNQty)
Price variance is calculated by dividing the goods receipt note quantity from the difference of purchase rate and bill rate.
e.g: PO Rate = 27500, Bill Rate = 25000 and GRN Qty = 2. Therefore the price variance is 1,250.