Roland Has Just Received Notification from a Vendor That His

question 30

Multiple Choice

Roland has just received notification from a vendor that his clothing merchandise order has been processed and dispatched. Roland has just received a(n)

• A) horizontal contractual notice.
• B) vendor-managed inventory alert.
• C) advanced shipping notice.
• D) universal product code report.
• E) CPFR tag.

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Definitions:

Efficiency Variances

Represents the difference between the actual input costs and the standard input costs anticipated for the production achieved.

Sales Price Variances

The difference between the actual price at which goods or services are sold and the expected (standard) sale price.

Sales Volume Variances

This is the difference between the actual sales volume and the budgeted sales volume, affecting revenue and expense projections.

Direct Materials Price Variance

The variance between the real expense of direct materials utilized in production and their predetermined cost, multiplied by the real amount of materials used.