If Actual Price Per Unit of Materials Is Greater Than

question 10

Short Answer

If actual price per unit of materials is greater than the standard price per unit of materials, the direct materials price variance is____________ .

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Definitions:

High-Technology

Pertaining to the most recent and advanced technology available, especially in the fields of electronics and computing.

Life Sciences Companies

Firms involved in the field of biology and biotechnology, including pharmaceuticals, biomedical technologies, life systems technologies, and services or products related to the science of living organisms.

Standard Factoring Arrangement

An agreement where a business sells its accounts receivable to a third party at a discount in exchange for immediate cash.

Receivables

Funds due to a company from its customers or clients for goods or services supplied on credit terms; another term for accounts receivable.