A Favorable Cost Variance Occurs When

question 150

Multiple Choice

A favorable cost variance occurs when

• A) Actual costs are more than standard costs.
• B) Standard costs are more than actual costs.
• C) Standard costs are less than actual costs.
• D) None of the above.

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Definitions:

Development

The process of planning, creating, testing, and deploying an application or software, which can also refer to personal, economic, or social progress.

Design

The process of envisioning and planning the creation of objects, systems, or interactive experiences to fulfill certain functions or address specific needs.

Testing And Installation

This term refers to the phase in software development where a product is tested for defects and correctness before being installed and deployed in a live environment.