Accounting · Management Accounting
Which of the following is the most appropriate definition of a materials price planning variance?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1The difference between the actual material price paid and the standard price budgeted, multiplied by actual quantity used
- 2The difference between the original budgeted price and the revised standard price at the time of purchase, multiplied by standard quantity✓
- 3The difference between actual quantity of material used and standard quantity allowed, valued at revised standard price
- 4The difference between actual price paid and revised standard price, multiplied by actual quantity purchased
Correct answer
The difference between the original budgeted price and the revised standard price at the time of purchase, multiplied by standard quantity
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Management Accounting MCQs →Want more practice questions on Management Accounting?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Management Accounting