Which One of the Following Is the Difference in Direct

question 127

Multiple Choice

Which one of the following is the difference in direct material costs between the actual cost incurred during the period and the total standard cost in the flexible budget for the units manufactured during the period?

• A) Direct materials price variance.
• B) Direct materials mix variance.
• C) Direct materials usage variance.
• D) Direct materials flexible-budget variance.
• E) Direct materials efficiency variance.

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Definitions:

Mean

The arithmetic average of a set of numbers, calculated by dividing the sum of the numbers by the count of numbers.

Confidence Interval

A confidence interval is a range of values derived from sample statistics that is likely to contain the value of an unknown population parameter, with a specified level of confidence.

Confidence Level

The probability or likelihood, expressed as a percentage, that a specified interval will contain the true population parameter.

Mean Width

An average measure of the width of a set of objects or figures, calculated by summing the widths and dividing by the number of objects.