Formative Evaluation Is to Summative Evaluation as ________ Is to ________

question 40

Multiple Choice

Formative evaluation is to summative evaluation as ________ is to ________ .

• A)before; after
• B)before; during
• C)during; before
• D)during; after

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Definitions:

Direct Material Price Variance

Direct material price variance measures the difference between the actual cost of direct materials and the expected (or standard) cost, indicating how well a company manages its material costs.

Actual Price

The real or transacted price of a good, service, or asset, usually the amount of money exchanged in the sale.

Standard Price

A predetermined price established by a company for a product or service, used for budgeting and cost control purposes.

Unfavourable Variances

Unfavourable Variances are cost or revenue variances that indicate a business is performing worse than its budgeted or planned figures.