All of the Following Variances Are Reported to the Production

question 50

Multiple Choice

All of the following variances are reported to the production department EXCEPT the

• A)labour price variance.
• B)materials price variance.
• C)overhead controllable variance.
• D)labour price and materials price variances.

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Definitions:

Tariff

A tax on imports or exports between sovereign states.

Imports

Goods and services brought into one country from another for sale, typically subject to tariffs and trade agreements.

Buyers

Individuals or entities that purchase goods or services.

Import Quotas

Limits set by a government on the quantity or value of goods that can be imported into a country, often used to protect domestic industries from foreign competition.