Which of the Following Is the Correct Formula for the Materials

question 137

Multiple Choice

Which of the following is the correct formula for the materials price variance?

• A) (Actual price of input - Budgeted price of input) x Budgeted quantity of input
• B) (Actual quantity of input used - Budgeted quantity of input allowed for actual output) x Budgeted price of input
• C) (Actual price of input - Budgeted price of input) x Actual quantity of input
• D) (Actual quantity of input used - Budgeted quantity of input allowed for actual output) x Actual price of input

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Definitions:

National Market

An economic concept referring to the nationwide integration of economic activities and markets, facilitated by transportation, communication, and regulatory systems.

Western Territories

Areas in the western part of the United States that were explored, settled, and ultimately organized into states during the 19th and early 20th centuries.

Eastern Territories

Refers to regions or areas situated to the east of a specific point or within the eastern part of a country or continent.

Statehood

The condition or status of being recognized as an independent nation with its own government and boundaries.