​ *Actual Hours Are Equal to Standard Hours for Units Produced.​

question 171

Multiple Choice

​
*Actual hours are equal to standard hours for units produced.​
-Variances from standard costs are included in reports to

• A)suppliers and creditors
• B)stockholders
• C)management
• D)suppliers and creditors, stockholders, and management

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Definitions:

Net Price

The final price after any discounts, rebates, or other deductions have been applied.

Complement Method

A technique used in mathematics and computer science to subtract one number from another by complementing one of the numbers and performing addition.

Trade Discounts

Reductions in the listed price of goods or services offered to buyers in a particular trade or industry, often provided for bulk purchases or to maintain business relationships.

Net Price

The final price after all discounts, rebates, and other reductions have been applied, excluding taxes and other fees.