Machine hour rate 
Estimated overheads divided by the estimated number of machine hours 
Margin of safety 
The difference between the current sales level and the breakeven point. 
Marginal cost 
The variable cost of one unit of product or service 
Marginal costing 
A costing technique to ascertain marginal costs and the effect on business of fixed overheads. 
Master budget 
A summary of all functional budgets 
Material mix variance 
The difference between the actual proportion of material used and the standard proportion multiplied by standard price. 
Material price variance 
The difference between the actual and standard price of material multiplied by actual quantity. 
Material usage variance 
The difference between the actual quantity used to make the actual output and the standard quantity which should have been used to make the actual output multiplied by the standard price. 
Material yield variance 
The difference between the actual yield and the standard yield multiplied by the standard cost rate. 

