A cost variance can be further separated into the quantity variance and the price variance.

Name: A cost variance can be further separated into the quantity variance and the price variance.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is true. The quantity variance is the difference between the actual quantity used or produced and the budgeted quantity, while the price variance is the difference between the actual price paid or received and the budgeted price.

A Cost Variance Can Be Further Separated into the Quantity