The total variance for any particular cost component is referred to as the:
A)price variance.
B)efficiency variance.
C)budget variance.
D)cost correction.

Name: The total variance for any particular cost component is referred to as the: A)price variance. B)efficiency variance. C)budget variance. D)cost correction.
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Question

Quizplus · Accepted Answer

The total variance for a cost component is typically referred to as the budget variance, which measures the difference between the budgeted amount and the actual amount spent.

The Total Variance for Any Particular Cost Component Is Referred