The Best Interpretation of the Word Credit Is the

question 91

Multiple Choice

The best interpretation of the word credit is the

• A) left side of an account.
• B) increase side of an account.
• C) right side of an account.
• D) decrease side of an account.

---

Definitions:

Direct Materials Price Variance

A measurement of the difference between the actual cost of direct materials and the standard cost expected to be paid, expressed in monetary terms.

Direct Materials Quantity Variance

A measure of the difference between the actual quantity of materials used in production and the standard amount expected, valued at the standard cost.

Variable Overhead

Costs incurred during production that fluctuate with production volume, such as utilities or materials.

Total Variable Overhead Variance

The difference between actual variable overhead costs and the expected (standard) costs for the same period.