Question

The materials price variance is the difference between the actual price of materials Blank______.

Multiple choice question.

and the standard price for materials with the difference multiplied by the standard quantity of material allowed


times the actual quantity of materials and the standard price of materials times the standard quantity allowed for production


and the standard price for materials with the difference multiplied by the actual quantity of materials

Answer 1

The correct completion for the statement about the materials price variance is:

"and the standard price for materials with the difference multiplied by the actual quantity of materials."

So, the complete statement would be:

The materials price variance is the difference between the actual price of materials and the standard price for materials with the difference multiplied by the actual quantity of materials.