Question: The materials price variance is the difference between actual quantity of materials purchased times the standard cost and the standard quantity of materials times the

The materials price variance is the difference between actual quantity of materials purchased times the standard cost and the standard quantity of materials times the standard cost.

Select one:

True

False

The labor quantity variance is the difference between the standard rate times the actual hours and the standard rate times the standard hours allowed.

Select one:

True

False

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