What Do Cost Variances Measure

question 151

Multiple Choice

What do cost variances 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:

Americans

Citizens or natives of the United States of America.

P-value

The probability of obtaining test results at least as extreme as the ones during the test, assuming that the null hypothesis is true.

Political Poll

A survey used to gauge public opinion and predict the outcome of political elections or sentiments on policies.

Headache Medicine

Headache medicine includes pharmaceutical drugs designed to relieve symptoms of headaches, including pain management and treatment of underlying causes, ranging from over-the-counter remedies to prescription medications.