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Price Variance

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Q: When computing standard cost variances the difference between actual and standard price multiplied by actual quantity yields what?
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What is inventory variance?

An inventory variance report shows the difference between previous recorded inventory quantity and correct inventory quantity which is discovered immediately after a physical count. It also reports on the value difference the quantity variances caused.


What is inventory variance report?

An inventory variance report shows the difference between previous recorded inventory quantity and correct inventory quantity which is discovered immediately after a physical count. It also reports on the value difference the quantity variances caused.


Why are separate price and quantity variances computed?

Price and quantity variances are computed respectively because different managers are usually responsible for buying and for using inputs.


Causes material quantity variance?

causes of labor rate variances


Are standards designed to evaluate price and quantity variances separately?

True


What is cost price variances?

Price variance is the actual unit cost minus the standard unit cost, multiplied by the actual quantity purchased. The variance is said to be unfavorable if the actual price of the materials is higher than the standard price of the materials.


Can vector quantity be divided and multiplied?

69


Is angular momentum a vector quantity?

Angular momentum is a vector quantity. Angular velocity, which is a vector quantity, is multiplied by inertia, which is a scalar quantity.


When can you multiply or divide quanties?

I do not think that quanties can be multiplied or divided. Any two quantities can be multiplied together. Any quantity can be divided by any non-zero quantity.


If a is a negative number then a multiplied by the quantity 1 divided by a end of quantity is blank equal to negative 1. If a is a negative number and b is a negative number then product a multiplied?

1


The difference between actual and standard cost caused by the difference between the actual quantity and the standard quantity is called the?

The difference between actual quantity and standard quantity is called the material quantity variance.


What is the difference between factors and coefficient?

The difference between factors and coefficient is very distinct. A factor is a quantity which is multiplied with another to give a particular number as the result. A coefficient on the other hand is a multiplier that measures property.