Direct Materials Variances Are Called Price and Quantity Variances

question 158

Short Answer

Direct materials variances are called price and quantity variances. However, when referring to direct labor, these variances are usually called ________and ___________variances.

---

Definitions:

Cognitive Processes

Mental activities such as thinking, understanding, learning, and remembering involved in gaining knowledge and comprehension.

1960s

A decade marked by significant social, political, and cultural change, often associated with movements for civil rights, peace, and liberation.

Cause-Effect

The principle that an action or event (cause) results in a consequence or outcome (effect).