Question Details

A cost variance equals the sum of the quantity variance 



1. While companies strive to achieve ideal standards, reality implies that some loss of materials usually occurs with any process.
True False
2. A cost variance is the difference between actual cost and standard cost.
True False
3. A budget performance report that includes variances can have variances caused by both price differences and quantity differences.
True False
4. A cost variance equals the sum of the quantity variance and the price variance.
True False
5. When computing a price variance, the price is held constant.
True False




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