which one is correct? The difference between actual and standard cost caused by thedifference between the actual price and the standard price iscalled the:a. Volume varianceb. Controllable variancec. Standard varianced. Quantity variancee. Price variance

The correct answer is:e. Price varianceExplanation: Price variance refers to the difference between…

Answered: The difference between actual and…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 5MC: This variance is the difference involving spending less, or using less than the standard amount. A....

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The difference between actual and standard cost caused by the difference between the actual price and the standard price is called the: a. Volume variance b. Controllable variance c. Standard variance d. Quantity variance e. Price variance