Chapter 11, Problem 10Q

In each of the following formulas, supply the words that should be inserted for each number in parentheses.

(a) (Actual quantity × (1)) − (Standard quantity × (2)) = Total materials variance

(b) ((3) × Actual price) − (Actual quantity × (4)) = Materials price variance

(c) (Actual quantity × (5)) − ((6) × Standard price) = Materials quantity variance