Which of the following gives formula for direct material price variance?
A. Actual quantity purchased × (Actual rate + Standard rate)
B. Actual quantity purchased × (Actual rate - Standard rate)
C. Standard quantity purchased × (Actual rate + Standard rate)
D. Standard quantity purchased × (Actual rate - Standard rate)
Answer: Option B
This Question Belongs to Management >> Management Accounting
A. resourcing
B. value acquiring
C. production
D. value acquaintance
Examining of past performance, exploring alternative and planning future is
A. learning
B. alternating
C. examining
D. deciding
Time that a company takes to create and produce a new product is classified as
A. management factor
B. time factor
C. customer factor
D. chain factor
Purpose of management accounting is to
A. past orientation
B. help banks make decisions
C. help managers make decisions
D. help investors make decision
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