A total variance is best defined as the difference between total
A)actual cost and total cost applied for the standard output of the period.
B)standard cost and total cost applied to production.
C)actual cost and total standard cost of the actual input of the period.
D)actual cost and total cost applied for the actual output of the period.

Question

Quizplus · Accepted Answer

A total variance is the difference between actual cost and the total cost applied for the actual output of the period. It represents the overall deviation from the planned or expected cost of producing a certain number of units. A, B, and C do not accurately define a total variance.

A Total Variance Is Best Defined as the Difference Between