The Primary Difference Between the Ohio State and the University

question 61

True/False

The primary difference between the Ohio State and the University of Michigan leadership studies was that Michigan considered one type of leadership to be most effective overall.

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Definitions:

Materials Quantity Variance

The difference between the actual and standard quantity of materials used times the standard price.

Materials Price Variance

The difference between the actual price and standard price of raw materials times the actual quantity used or purchased.

Direct Materials Price Variance

The difference between the actual cost and standard cost of materials used in production.

Direct Materials Quantity Variance

The difference between the actual quantity of direct materials used in production and the standard quantity expected, multiplied by the standard cost per unit.