What Does a Cost Variance Measure

question 81

Multiple Choice

What does a cost variance measure?

• A) the difference between the cost the company pays and the cost its competitors pay
• B) the change in costs over time
• C) how well the business keeps unit costs of material and labor inputs within standards
• D) the volume discounts companies receive when ordering direct materials in large quantities

---

Definitions:

Industrial Settings

Workplaces related to the production of goods or services, often focusing on processes, efficiency, and worker behavior.

Cognitive Complexity

The ability to understand and process complex and multifaceted information, often reflected in nuanced and sophisticated thought patterns.

Diverse Experiences

A range of different encounters or situations that contribute to an individual's learning, knowledge, and personal growth.

Authoritarian Parents

Parents who employ a strict parenting style characterized by high demands and low responsiveness, emphasizing obedience and discipline over nurturing.