When is the material quantity unfavorable? A.When the actual quantity used is less than the standard quantity B.When the actual price is less than the standard price C.When the actual quantity used is greater than the standard quantity D.When the actual price paid is greater than the standard price

Q: what are the differences between the FIFO, LIFO, and the average cost?

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: 4. The standard direct material cost is equal to: A) Standard quantity × Actual price B) Actual…

A: Let's break down the components of the standard direct material cost calculation:Standard Quantity:…

Q: An indirect cost for one cost object can be a direct cost for a different cost object. True False

A: Direct cost means the cost directly related with cost object and indirect cost means which can not…

Q: When applying lower of cost or net realizable value under the FIFO, average cost, or specific…

A: The lower of cost or net realizable value method says we should record the inventory at market price…

Q: Explain the difference between target price and target cost.

A: