Difference between actual input variance and budgeted input variance is called

A. price variance

B. actual output price

C. budgeted output price

D. actual selling price

Answer: Option A

Solution(By Examveda Team)

Difference between actual input variance and budgeted input variance is called price variance. Price variance is the difference between the actual price paid by a company to purchase an item and its standard price, multiplied by the number of units purchased.