In general, and holding all other things constant, an unfavorable variance decreases operating profits.
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Q9: The standard cost for a unit of
Q10: The terms "master budget" and "flexible budget"
Q11: Production cost variances are input variances, while
Q12: Variance analysis for fixed production costs is
Q13: A flexible budget adjusts the static budget
Q15: The budget (or spending) variance for fixed
Q16: The difference between operating profits in the
Q17: The materials price variance is computed by
Q18: It is possible to have a favorable
Q19: In essence, the terms "master budget" and
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