An efficiency variance measures how well a company keeps unit prices of material and labor inputs within standards.

Name: An efficiency variance measures how well a company keeps unit prices of material and labor inputs within standards.
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Quizplus · Accepted Answer

An efficiency variance measures the degree to which actual inputs used differ from standard inputs allowed for the actual level of output. It measures how efficiently a company uses its inputs to produce a given level of output.

An Efficiency Variance Measures How Well a Company Keeps Unit