The Following Materials Standards Have Been Established for a Particular

question 119

Multiple Choice

The following materials standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the materials price variance for the month?

• A)$2, 250 F
• B)$7, 540 U
• C)$24, 317 U
• D)$7, 660 U

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Definitions:

Invoice

A document sent by a seller to a buyer, outlining the goods or services provided, their prices, and the total amount owed.

EOM

End of Month, referring to any activity, measurement, or payment scheduled to occur on the last day of a month.

Outstanding Balance

The total amount of money owed on a loan, credit card, or mortgage that is yet to be paid.

Invoice

A document issued by a seller to a buyer, specifying the items or services sold, prices, terms of sale, and payment instructions.