A price variance is favorable if _____.
A)standard cost exceeds actual cost
B)standard quantity exceeds actual quantity
C)actual cost exceeds standard cost
D)actual quantity exceeds standard quantity

Question

Quizplus · Accepted Answer

A favorable price variance occurs when the standard cost exceeds the actual cost, meaning the actual cost to purchase or produce something was less than what was anticipated or budgeted.

A Price Variance Is Favorable If _____