A materials quantity variance is calculated as the difference between the standard direct materials price and the actual direct
1 answer:
Answer:
FALSE. The description is for the materials price variance.
Explanation:
The materials quantity variance is as follows:
It is the difference between the quantity of materials according to standard measurement and the quantity which actually occur.
This is the quantity in units or pounds above or below standard. Then qwe multiply by the standard price to get a dollar metric.
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The net total change in total assets comes out to 1,27,0000 when the change in assets and liabilities is computed.
<h3>What do you mean when you say "assets" and "liabilities"?</h3>A company's assets are everything it possesses. They may be located on the balance sheet's left side. Liabilities are all debts that a company owes, both now and in the future. They may be found on the balance sheet's right side.
Current and fixed assets are the two categories of assets.
- Current assets are those that can be turned into cash immediately. For example, Cash accounts receivable, and inventory is among them.
Current and long-term obligations are the two categories of liabilities.
- Credit lines, loans, wages, and accounts payable are examples of current obligations that must be paid back within a year.
Thus,
According to the aforementioned circumstances, There will be a total shift of 1,27,0000 in assets.
Learn more about assets and liabilities:
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