A materials price variance is arrived at by taking standard quantity times actual price,less standard price.
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Q3: Standard costs actually are ideal costs per
Q4: A materials quantity variance is the standard
Q7: In a standard cost system actual costs
Q8: In setting standard costs,management's expectations are that
Q14: A favorable variance would be credited to
Q16: In setting standards,management's level of performance expectation
Q17: In a standard cost system,actual costs are
Q18: Standard costs are established only for direct
Q19: The use of excessive quantities of material
Q20: In most companies using standard cost procedures,the
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