If Actual Costs Are Greater Than Standard Costs, There Is

question 112

Multiple Choice

If actual costs are greater than standard costs, there is a(n)

• A)normal variance.
• B)unfavourable variance.
• C)favourable variance.
• D)error in the accounting system.

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Definitions:

Production/Delivery

The process and logistics involved in creating a product and making it available to the end customer, including manufacturing and shipping stages.

Repetitive Services

Services that are provided in a consistent and continuous manner, often characterized by the repetition of similar tasks or functions.

Retail Hardware Store

A business venue that sells tools, building supplies, and equipment directly to consumers for home improvement and repair projects.

Chargeout Rates

The rates that a company charges for its services, often used in professional services industries to bill clients.