Price Variance = (Actual Price x Actual Quantity) - (Standard Price x Standard Quantity).

Name: Price Variance = (Actual Price x Actual Quantity) - (Standard Price x Standard Quantity).
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Price Variance = (Actual Price - Standard Price) x Actual Quantity. It measures the difference between the actual price paid for a resource and its expected (standard) cost, multiplied by the actual quantity purchased.

Price Variance = (Actual Price X Actual Quantity) - (Standard