What Are Standard Cost Variances

question 76

Multiple Choice

What are standard cost variances?

• A)Differences between standard and actual costs
• B)Amounts that exceed budgeted amounts
• C)Useful industry-developed amounts that can be used by companies to evaluate their performance
• D)Differences between budgeted and standard amounts

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Definitions:

Generalizability

The extent to which the findings from a study can be applied or extended to broader populations, settings, or times.

Ecological Validity

The degree to which the findings of a study can be generalized to real-world settings.

Independent Variables

In experimental research, the variables that are manipulated or changed by the researcher to determine their effect on dependent variables.

Causality

The relationship between cause and effect, where one event (the cause) leads to the outcome or consequence (the effect).