Multiplying the Difference Between Actual Materials Price Per Unit and the Standard

question 134

Multiple Choice

Multiplying the difference between actual materials price per unit and the standard materials price per unit by actual quantity of materials used is known as the:

• A) Sales volume variance.
• B) Materials price variance.
• C) Labor price variance.
• D) Materials usage variance.

Evaluate the support and resources provided by franchisors to franchisees, including marketing and financial assistance.

Recognize the importance of professional advice (legal, financial) when entering into franchise agreements.

Understand the historical development of franchising and its impact on the economy.

Recognize the significance of exclusive territories and how they affect franchise operations.

---

Definitions:

Bureau Of Labor Statistics

A U.S. government agency responsible for collecting and analyzing labor economic data to support public and private decision making.

Housing

Housing encompasses the market for dwelling places, including their construction, purchase, rent, and sale.

CPI

The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Increase In Value

A rise in the monetary worth or market value of an asset.