If Actual Price Per Unit of Materials Is Greater Than

question 10

Short Answer

If actual price per unit of materials is greater than the standard price per unit of materials, the direct materials price variance is____________ .

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Definitions:

Merchandise

Merchandise refers to the goods that a business purchases to resell at a profit.

Journal Entries

The method used to record all transactions in an accounting system, ensuring that credits and debits are balanced.

Financial Statement

Documents that report on a company's financial performance, position, and cash flows, providing insights to stakeholders about its financial health.

Bad Debt Expense

An expense recorded by businesses to account for invoices that are unlikely to be paid by customers.