Q147
Difference between actual input variance and budgeted input variance is called
A.
price variance
AnswerB.
actual output price
C.
budgeted output price
D.
actual selling price
Answer: Option A
Solution
Answer: Option A
Solution:
Difference between actual input variance and budgeted input variance is called price variance. Price variance is the difference between the actual price paid by a company to purchase an item and its standard price, multiplied by the number of units purchased.