Answered: Material Cost Variance can be…

Name: Material Cost Variance can be segregated between:a.Mix Variance and Yi
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Description: Material Cost Variance can be segregated between:a.Mix Variance and Yield Varianceb.Usage Variance and Mix Variancec.Price Variance and Usage Varianced.None of the options

Business

Accounting

Material Cost Variance can be segregated between: a. Mix Variance and Yield Variance b. Usage Variance and Mix Variance c. Price Variance and Usage Variance d. None of the options

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 3PA: What makes a variance favorable? Give an example of a favorable variance involving materials. What...

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What makes a variance favorable? Give an example of a favorable variance involving materials. What makes a variance unfavorable? Give an example of an unfavorable variance involving labor.
This variance is the difference involving spending less, or using less than the standard amount. A. favorable variance B. unfavorable variance C. no variance D. variance
When is the material price variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
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Acme Inc. has the following information available: A. Compute the material price and quantity, and the labor rate and efficiency variances. B. Describe the possible causes for this combination of favorable and unfavorable variances.
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