Which of the following analysis of variances is true? * A unfavorable sales price variance under the 3-way analysis has a same interpretation with that of the favorable sales price variance under the 4-way analysis. A cost price variance that is favorable shows that the current year cost of sales per unit is greater than the prior year cost of sales. Unfavorable sales volume variance means that the actual quantity of units sold is less than the amount of sales a standard quantity. A favorable volume variance means that the number of units sold as per budget exceed the actual number of units sold.

Which of the following analysis of variances is true? * A unfavorable sales price variance under the 3-way analysis has a same interpretation with that of the favorable sales price variance under the 4-way analysis. A cost price variance that is favorable shows that the current year cost of sales per unit is greater than the prior year cost of sales. Unfavorable sales volume variance means that the actual quantity of units sold is less than the amount of sales a standard quantity. A favorable volume variance means that the number of units sold as per budget exceed the actual number of units sold.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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