Which of the following is the correct formula for the materials price variance?
a) (Actual price of input - Budgeted price of input) Ã Budgeted quantity of input
b) (Actual quantity of input used - Budgeted quantity of input allowed for actual output) Ã Budgeted price of input
c) (Actual price of input - Budgeted price of input) Ã Actual quantity of input
d) (Actual quantity of input used - Budgeted quantity of input allowed for actual output) Ã Actual price of input
Answers: 2
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Which of the following is the correct formula for the materials price variance?
a) (Actual price o...
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