A cost variance measures the difference in quantities of actual inputs used and the standard quantity of inputs allowed for the actual number of units produced.

Name: A cost variance measures the difference in quantities of actual inputs used and the standard quantity of inputs allowed for the actual number of units produced.
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Question

Quizplus · Accepted Answer

A cost variance measures the difference between the actual cost incurred and the standard cost, rather than the difference in quantities of inputs used.

A Cost Variance Measures the Difference in Quantities of Actual