The direct materials price variance is calculated using the standard quantity of direct materials purchased, the actual price paid for the direct materials, and the standard price for the direct materials purchased.
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Q12: Because the production managers are the ones
Q13: The flexible budget variance reflects how efficiently
Q14: For a static budget, the difference between
Q15: A flexible budget is a budget based
Q16: An unfavorable variance is a variance that
Q18: The direct materials quantity variance is caused
Q19: Management by exception focuses on all variances,
Q20: A material variance is one that is
Q21: The master budget is an example of
Q22: Variances are labeled as
A)avoidable or unavoidable.
B)favorable or
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