A Mix Variance Is

question 53

Multiple Choice

A mix variance is

• A) created whenever the actual mix of inputs differs from the standard mix.
• B) the difference in the standard cost of the actual mix of inputs used and the standard cost of the mix of inputs that should have been used.
• C) both 'a' and 'b' are correct.
• D) none of these are correct.

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Definitions:

Corporate Strategy

The overarching plan and scope of an organization aimed at achieving long-term business objectives and competitive advantage.

Cash Flow

The total amount of money being transferred into and out of a business, indicating its liquidity, financial health, and ability to handle operational expenses.

Visionary Goals

Long-term, aspirational goals that a company aims to achieve, reflecting its ultimate ambition or desired future state.

Organizational Progress

The forward or developmental movement achieved by an organization in its pursuit of goals.