A Mix Variance Is

question 53

Multiple Choice

A mix variance is

• A) created whenever the actual mix of inputs differs from the standard mix.
• B) the difference in the standard cost of the actual mix of inputs used and the standard cost of the mix of inputs that should have been used.
• C) both 'a' and 'b' are correct.
• D) none of these are correct.

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Definitions:

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the outstanding loan.

Interest Rate

The percentage of a loan amount charged by the lender to the borrower for the use of assets, expressed as an annual percentage of the principal.

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Profits

Financial gains obtained after subtracting total expenses from total revenue, from business operations or other investments.