An Example of a Favorable Variance Is

question 129

Multiple Choice

An example of a favorable variance is:

• A) actual revenues are less than expected
• B) material prices are greater than expected
• C) actual expenses are less than expected
• D) expected labor costs are less than actual costs

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Definitions:

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specific period.

Cattle Ranchers

Individuals or businesses involved in raising cattle, mainly for beef production.

Supply Curve

A graph showing the relationship between the quantity of a good supplied and its price, typically upward sloping.

Movement

A change or development in a particular direction, often referred to in contexts ranging from physical relocation to shifts in opinions or trends.