Raw material, ruined through mistakes during production, will result in a materials price variance.

Name: Raw material, ruined through mistakes during production, will result in a materials price variance.
Brand: Quizplus
Rating: 4.8 (50 reviews)

Question

Quizplus · Accepted Answer

Materials price variance is calculated based on the difference between the actual cost of materials and the standard cost. Ruined materials through mistakes during production would typically result in a materials quantity or usage variance, not a price variance.

Raw Material, Ruined Through Mistakes During Production, Will Result in a Materials