The Direct Materials Quantity Variance Is Caused by Using More

question 25

True/False

The direct materials quantity variance is caused by using more or less material than the standard quantity allowed for actual production.

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Definitions:

Millimetres

A metric unit of length equal to one thousandth of a meter.

IQR

The Interquartile Range, which represents the spread of a dataset, is calculated by subtracting the 25th percentile from the 75th percentile.

Range

The difference between the highest and lowest values in a set of numbers; a measure of dispersion or variability.

Median

The middle value in a sorted list of numbers, effectively dividing the dataset into two halves.