When Computing Standard Cost Variances, the Difference Between Actual and Standard

question 103

Multiple Choice

When computing standard cost variances, the difference between actual and standard price multiplied by actual quantity yields a(n) :

• A)combined price and quantity variance.
• B)efficiency variance.
• C)price or rate variance.
• D)quantity variance.

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Definitions:

Corporate Stock

Represents ownership shares in a corporation, giving holders a claim on the corporation's earnings and assets.

Article 2

A section of the Uniform Commercial Code that governs the sale of goods, specifying the rights, duties, and liabilities of parties involved.

Vehicles

Means of transport that are designed to move people or goods from one place to another, including cars, trucks, buses, and bicycles.

Appliances

Electrical or mechanical devices designed to perform household functions, such as refrigerators or washing machines.