Which of the following is incorrect for material variances?
A. MCV = (SQ × SP) - (AQ × AP)
B. MPV = AQ(SP - AP)
C. MUV = AP(SQ - AQ)
D. MYV = SC per unit (AY - SY)
Answer: Option C
Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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