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Question: What is the formula for computing direct materials price variance? a. actual costs - (actual quantity X standard price) b. actual cost + standard costs c. actual cost - standard costs d. (actual quantity X standard price) - standard costs

Question: What is the formula for computing direct materials price variance? a. actual costs - (actual quantity X standard price) b. actual cost + standard costs c. actual cost - standard costs d. (actual quantity X standard price) - standard costs

Financial & Managerial Accounting
Financial & Managerial Accounting
14th Edition
ISBN:9781337119207
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter22: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 3DQ
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Question: What is the formula for computing direct materials price variance? a. actual costs - (actual quantity X standard price) b. actual cost + standard costs c. actual cost - standard costs d. (actual quantity X standard price) - standard costs
Transcribed Image Text:Question: What is the formula for computing direct materials price variance? a. actual costs - (actual quantity X standard price) b. actual cost + standard costs c. actual cost - standard costs d. (actual quantity X standard price) - standard costs
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