In each of the following formulas, supply the words that should be inserted for each number in parentheses. (a) (Actual
(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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Step by Step Answer:
Chapter # 25- Standard Costs and Balanced Scorecard
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Question Posted: October 21, 2011 05:19:58