The Sum of the Material Price and Material Usage Variances

question 85

True/False

The sum of the material price and material usage variances will add up to the total materials variance only if the materials purchased is equal to the materials used.

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Definitions:

Absolute Poverty

The amount of money needed in a particular country to meet basic needs of food, shelter, and clothing.

United Nations

An international organization founded in 1945 to promote peace, security, and cooperation among countries.

Abnormality

Abnormality refers to a deviation from the norm or average, often used in medical, psychological, and biological contexts to describe differences in behavior, structure, or function.

Major Events

Significant occurrences or milestones that have a profound impact on individuals or communities.