Direct Materials Variances Are Called Price and Quantity Variances

question 158

Short Answer

Direct materials variances are called price and quantity variances. However, when referring to direct labor, these variances are usually called ________and ___________variances.

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Definitions:

Normal IQ Test

A standardized assessment tool used to measure intellectual abilities and potential in comparison to the general population.

Immigrant Families

Families that have migrated from one country to another, possibly facing cultural, social, and economic adjustments.

Fastest Growing

A term often used in demographics, economics, or biology, referring to the entity or sector experiencing the most rapid rate of growth in its category.