Question: TRUE/FALSEWrite TRUE if the statement is correct and FALSE if it is wrong. The price variance reflects the difference between the quantity of inputs used

TRUE/FALSEWrite TRUE if the statement is correct and FALSE if it is wrong.

The price variance reflects the difference between the quantity of inputs used and the standard quantity allowed for the output of a period.

The usage variance reflects the difference between the price paid for inputs and the standard price for those inputs.

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total 7 questions here.

6-12

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