There Is an International Organization of Securities Commissions Made Up

question 57

True/False

There is an International Organization of Securities Commissions made up of approximately 100 national securities agencies and exchanges which regulates about half of the world's securities markets.

---

Definitions:

Materials Price Variance

The difference between the actual cost of materials and the expected (or standard) cost, used to control and manage costs.

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours expected to complete a task, multiplied by the standard hourly labor rate.

Materials Price Variance

The discrepancy between the real expense of direct materials employed in manufacturing and the anticipated standard expense for those materials.

Materials Quantity Variance

The difference between the budgeted and actual quantities of materials used in production, affecting cost management.