If actual cost for a period is $47,250 and standard cost for that same period is $44,750, the dollar difference between the two figures can be viewed as:

Question

Quizplus · Accepted Answer

The dollar difference between actual cost and standard cost can be viewed both as waste (since it represents additional costs incurred beyond the planned or standard cost) and as potential savings (since it highlights an area where costs could potentially be reduced in the future).

If Actual Cost for a Period Is $47,250 and Standard