Question: In each of the following formulas, supply the words that should be inserted for each number in parentheses. (a) (Actual quantity (1)) (Standard

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

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