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MATCHING Match Each Description with the Item Below

question 56

Multiple Choice

MATCHING
Match each description with the item below.
-Roger B. Taney


Definitions:

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost expected for those materials.

Raw Materials

These are the base ingredients or components that companies use in the production of goods.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost of those materials.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected, multiplied by the standard cost per unit of material.

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