Formatting Does Not Change the Data Value,it Only Changes Its

question 2

True/False

Formatting does not change the data value,it only changes its appearance.

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Definitions:

Fixed Factory Overhead Volume Variance

The difference between the budgeted amount for fixed factory overhead and the amount applied to production, based on standard cost.

Direct Materials Quantity Variance

A financial measure that shows the difference between the actual quantity of materials used and the standard quantity expected for production.

Standard Price

The predetermined cost that a company expects to pay for inventory or inputs, used for budgeting and variance analysis.

Variable Factory Overhead

Costs that fluctuate with production volume, such as utilities and materials used in the manufacturing process.