The difference between actual and standard cost caused by the difference between the actual price and the standard price is called the:
A) Standard variance.
B) Quantity variance.
C) Volume variance.
D) Controllable variance.
E) Price variance.

Question

Quizplus · Accepted Answer

The difference between actual and standard cost caused by the difference between actual price and standard price is known as the price variance.

The Difference Between Actual and Standard Cost Caused by the Difference