A Favorable Variance Occurs When Actual Costs Are Less Than

question 25

True/False

A favorable variance occurs when actual costs are less than standard costs.

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Definitions:

Volume Of Sales

The total quantity of goods or services sold within a specific time frame.

Price Falls

A situation where the price of goods or services decreases in the market due to various factors like excess supply, reduced demand, or external economic conditions.

Consumer Considers

Factors or elements that consumers take into account when making purchasing decisions.

Value

The importance, worth, or usefulness of something, often in terms of monetary worth.