A material variance is one that is large enough to make a difference in the outcome of a decision.
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Q15: A flexible budget is a budget based
Q16: An unfavorable variance is a variance that
Q17: The direct materials price variance is calculated
Q18: The direct materials quantity variance is caused
Q19: Management by exception focuses on all variances,
Q21: The master budget is an example of
Q22: Variances are labeled as
A)avoidable or unavoidable.
B)favorable or
Q23: The variable overhead spending variance is the
Q24: The direct labor rate variance is the
Q25: The direct labor efficiency variance is the
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