The usage variance reflects the difference between the quantity of inputs used and the standard quantity allowed for the output of a period.

Name: The usage variance reflects the difference between the quantity of inputs used and the standard quantity allowed for the output of a period.
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Quizplus · Accepted Answer

This statement correctly defines the usage variance. It is the difference between the actual quantity of inputs used and the standard or budgeted quantity allowed for the output produced during a specific period.

The Usage Variance Reflects the Difference Between the Quantity of Inputs