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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Explain why the materials price variance is often computed at the point of purchase rather than at the point of issuance.

To determine

Explain the reason of calculating materials price variance at the time of purchase rather than at the time issuance.

Explanation

Variance:

The amount obtained when actual cost is deducted from budgeted cost is known as variance. Variance is calculated to find whether the cost is over applied or under applied.

Materials price variance is the difference between standard and actual prices of the material...

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