-In the Accompanying Figure,which Item Points to the Range Name

question 37

Multiple Choice

-In the accompanying figure,which item points to the range name of table to search?

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Materials Price Variance

The difference between the actual cost and the standard cost of materials used in production, multiplied by the quantity of materials used.

Standard Price

A pre-determined cost assigned to goods and services, used as a benchmark in budgeting and variance analysis.

Pounds

A unit of weight commonly used in the British imperial and United States customary measurement systems.

Direct Materials Price Variance

The difference between the actual cost of direct materials used in production and the expected (or standard) cost of those materials.