The Formula to Compute the Direct Material Quantity Variance Is

question 8

Multiple Choice

The formula to compute the direct material quantity variance is to calculate the difference between

• A) Actual costs - Standard costs
• B) Standard costs - Actual costs
• C) (Actual quantity × Standard price)- Standard costs
• D) Actual costs - (Standard price × Standard costs)

---

Definitions:

Data Analysis Skills

The competency in processing and interpreting data to draw meaningful conclusions, critical in decision-making processes across various fields.

Wage Disparity

The difference in earnings among workers, often due to factors like gender, race, or job type.

Total Wages

The sum of all wages paid to employees by an employer over a specific period, reflecting the labor cost in production or services.

Labor Union

An organization of workers formed to protect and advance their rights and interests.