Accounting · Cost Accounting
The difference between the standard quantity of a material specified for actual production and the actual quantity of material used, multiplied by the standard price, is known as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Material Cost Variance
- 2Material Usage Variance✓
- 3Material Price Variance
- 4Material Mix Variance
Correct answer
Material Usage Variance
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