In a standard cost system,when the materials price variance is recorded at the time the material is purchased, the materials purchase price variance is obtained by multiplying the:
a. Actual price by the difference between actual quantity purchased and standard quantity used.
b. Actual quantity purchased by the difference between actual price and standard price.
c. Standard price by the difference between standard quantity purchased and standard quantity used.
d. Standard quantity purchased by the difference between actual price and standard price.
b
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Which of the following best describes the preferred approach for managers confronted with risk?
A. They avoid it by any means necessary. B. They eliminate it with a thorough understanding of the consequences of each option. C. They anticipate it, minimize it, and control it. D. They understand there is no way to manage it. E. They thrive on taking risks.
________ include environmental laws, securities laws, and antitrust laws and provide for criminal violations and penalties
A) Regulatory statutes B) Constitutions C) Charters D) Resolutions