The Difference Between Standard and Actual Cost Per Unit of Input

question 20

Multiple Choice

The difference between standard and actual cost per unit of input is measured by:

• A)the raw materials price variance.
• B)the direct labor rate variance.
• C)the variable overhead spending variance.
• D)All of the answers are correct.

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Definitions:

Domesticate

To adapt plants or animals from the wild for human use, modifying them for coexistence with humans.

Industrial Revolution

A period of significant industrial growth and technological innovation that began in the late 18th century, leading to major changes in manufacturing, mining, and transport.

Industrial Societies

Societies characterized by a reliance on mechanized labor to create goods, leading to increased urbanization and changes in social structures.

Agricultural Societies

Communities or societies that primarily rely on agriculture and farming as the main source of livelihood and economic activity.