What Does a Favorable Direct Materials Price Variance Indicate

question 68

Multiple Choice

What does a favorable direct materials price variance indicate?

• A) The actual quantity of materials used was less than the standard quantity.
• B) The actual cost of materials purchased was less than the standard cost of materials purchased.
• C) The actual cost of materials purchased was greater than the standard cost of materials purchased.
• D) The actual quantity of materials used was greater than the standard quantity.

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Definitions:

Ecosystem Processes

The natural cycles and exchanges of energy and nutrients that sustain the functioning and biodiversity of ecological systems.

Environmental Racism

the disproportionate impact of environmental hazards on minority ethnic groups, often because of discriminatory policies or practices that expose these communities to pollutants.

Aboriginal Communities

Groups of indigenous people who are native to a particular geographical region, often maintaining practices, languages, and beliefs distinct from those of dominant cultures.

Bioprospecting

The process of searching for, collecting, and deriving medicinal or commercial products from biological resources, often involving indigenous knowledge.