Solution-Which is false regarding variances

Which is false regarding variances

Reference no: EM132548863

Question 1: Which of the following is false regarding variances?

Group of answer choices

Option 1: Favorable variances occur whenever actual prices or actual usage of inputs are lower than standard prices or standard usage.

Option 2: Mathematically, an unfavorable variance has a positive value.

Option 3: A variance is the remaining portion after subtracting the standard cost from the actual cost.

Option 4: A favorable variance, when it occurred, are debited to the related variance account.

Reference no: EM132548863

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Which is false regarding variances

Reference no: EM132548863

Reference no: EM132548863

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

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