Question

The total manufacturing cost variance is a.the flexible budget variance plus the time variance b.the difference between planned costs and standard costs for units produced c.the difference between actual costs and standard costs for units produced d.None of these choices are correct.

Answer 1

Answer:

The correct answer to the following question will be Option C.

Explanation:

• A Cost variance seems to be the gap and difference between the expected expenditures incurred as well as the projected regular expenditures at just the start of such a time frame.
• Such variances have been used by administrators to assess and monitor the progress including its supply chains, expenditures as well as other activities.

⇒  Cost variance = Actual cost - Standard cost

Some other available options have no connection with the given case. So choice C seems to be the perfect solution to that.