Multiple Choice
Which of the following formulas is used to calculate the materials price variance?
A) (Actual Price × Actual Quantity) - (Standard Price × Standard Quantity)
B) (Variable Price × Actual Quantity) - (Total Price × Actual Quantity)
C) (Fixed Price × Average Quantity) - (Standard Price × Actual Quantity)
D) (Actual Price × Actual Quantity) - (Standard Price × Actual Quantity)
E) None of these.
Correct Answer:
Verified
Correct Answer:
Verified
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