Multiple Choice
A favorable price variance for direct materials indicates that:
A) a lower price than planned was paid for materials
B) a higher price than planned was paid for materials
C) less material was used during production than planned for actual output
D) more material was used during production than planned for actual output
Correct Answer:

Verified
Correct Answer:
Verified
Q34: A favorable variance results when actual costs
Q51: Littrell Company produces chairs and has determined
Q53: Improvement opportunities are easier to identify when
Q54: Bach Table Company manufactures tables for schools.
Q55: The flexible-budget variance pertaining to revenues is
Q57: When benchmarking, management accountants are MOST valuable
Q58: The relative amount of inputs used to
Q59: Answer the following questions using the information
Q139: Possible operational causes of an unfavorable direct
Q142: The process by which a company's products