Complete the material price variance

Exercise and reference answers

Missing parts

1. Answer

   Quantity

   Choices

   1. Quantity
   2. Value
   3. Rate

2. Answer

   standard

   Choices

   1. budgeted
   2. standard
   3. revised

3. Answer

   actual

   Choices

   1. standard
   2. average
   3. actual

Complete the statement

Material Price Variance = Actual {0} multiplied by the difference between {1} price and {2} price.

Instructions

Tap a term into each blank to finish the variance formula.

Explanation