The ________ "Measures Whether the Quantity of Direct Materials Used

question 115

Multiple Choice

The ________ "measures whether the quantity of direct materials used to make the actual number of outputs is within the standard allowed for that number of outputs."

• A)production volume variance
• B)overhead flexible budget variance
• C)price variance
• D)quantity variance

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Definitions:

Cash Collections

The process and amount of cash gathered from receivables or sales transactions over a certain period.

Long Term Assets

Assets that are expected to provide economic benefits to a company over a period longer than one year, like buildings and machinery.

Condensed Balance Sheets

Simplified financial statements presenting only the most essential information about a company's financial position.

Fixed Assets

Long-term tangible assets used in the operation of a business that are not likely to be converted to cash within one year.