The difference between actual price per unit of input and the standard price per unit of input results in a:
A)Standard variance.
B)Quantity variance.
C)Volume variance.
D)Controllable variance.
E)Price variance.

Question

Quizplus · Accepted Answer

The difference between actual price per unit of input and the standard price per unit of input is referred to as the price variance. This variance represents the difference in cost between what was actually paid for the input and what was expected to be paid based on the standard cost.

The Difference Between Actual Price Per Unit of Input and the Standard