The Formula for the Materials Quantity Variance Is

question 44

Multiple Choice

The formula for the materials quantity variance is

• A) (SQ × AP) - (SQ × SP).
• B) (AQ × AP) - (AQ × SP).
• C) (AQ × SP) - (SQ × SP).
• D) (AQ × AP) - (SQ × SP).

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Definitions:

Equitable Assignment

An assignment that could be enforced if all parties could be brought before the court.

Constructive Trust

An equitable remedy that imposes a trust-like obligation on someone who has wrongfully obtained or holds legal property rights.

Full Release

A legal agreement in which one party permanently relinquishes all claims against another.

Novation

The process of replacing one obligation with another by mutual agreement.