Under a standard cost system, the materials price variances are usually the responsibility of the:
A) production manager.
B) sales manager.
C) purchasing manager.
D) engineering manager.

Question

Quizplus · Accepted Answer

In a standard cost system, the purchasing manager is typically responsible for the materials price variances as they are responsible for sourcing and negotiating the purchase of materials at the best possible price. They are also responsible for ensuring that the materials received meet the required quality standards.

Under a Standard Cost System, the Materials Price Variances Are