Variances Represent the Differences Between

question 12

Multiple Choice

Variances represent the differences between:

• A)Actual costs and the standard costs applied
• B)Raw materials ordered and raw materials received
• C)The sales targets and sales accomplishments
• D)Actual quantity on hand and quantity according to the inventory system

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Definitions:

Wooden Furniture

Furniture made from wood materials, valued for its aesthetics, durability, and inherent natural beauty.

Price

The amount of money expected, required, or given in payment for something.

Export

The act of sending goods or services from one country to another for sale or trade.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit received from the purchase.