The Direct Materials Price Variance Is Calculated Using Which of the Three

question 33

Multiple Choice

The direct materials price variance is calculated using which of the three amounts?

• A)Actual quantity purchased,standard quantity purchased,actual price paid
• B)Actual quantity purchased,standard quantity purchased,standard price paid
• C)Standard quantity purchased,actual price paid,standard price paid
• D)Actual quantity purchased,actual price paid,standard price paid

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Definitions:

Deliverable

A specific output or result that must be delivered upon completion of a project or part of a project.

Budget

An estimate of income and expenditure for a set period of time, often used for planning and managing finances.

Schedule

An organized plan specifying times at which certain events or tasks are intended to occur, often used for organizing work, events, or tasks.

Key Personnel

Individuals who hold critical roles within a project or organization, often essential to its success.