Question: (LO 7-2) Management accounting uses variance analysis to explain what and why something happened in the cost of producing products. It is done by comparing

(LO 7-2) Management accounting uses variance analysis to explain what and why something happened in the cost of producing products. It is done by comparing actual outcomes to expected, or standard, costs. What is the expectation when the price of raw materials unexpectedly increases?

a. Unfavorable price variance

b. Favorable price variance

c. Unfavorable quantity variance

d. Favorable quantity variance

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