The Material Price Variance (Computed at Point of Purchase)is

question 72

Multiple Choice

The material price variance (computed at point of purchase) is

• A)the difference between the actual cost of material purchased and the standard cost of material purchased.
• B)the difference between the actual cost of material purchased and the standard cost of material used.
• C)primarily the responsibility of the production manager.
• D)both a and c.

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Definitions:

Boron

A lightweight, semimetallic element, used in compounds to enhance strength, hardness, and resistance to chemical change.

Natural Rubber

A polymer of isoprene (2-methyl-1,3-butadiene) harvested mainly from the latex of the rubber tree; it's elastic, water-resistant, and used in various products like tires and gloves.

Petroleum Products

Refined products obtained from the processing of crude oil, such as gasoline, diesel, and kerosene.

Valence Electrons

Electrons in the outermost shell of an atom that are involved in forming chemical bonds.