Which of the following statements about standards is False?

a. The difference between actual quantity, price or rate and its related standard is called a fluctuation.
b. The quantity variances show how much money the company lost (or saved) because the used a different amount of material than they planned to use.
c. The rate variance shows how much money the company lost (or saved) because they paid the employees a different amount per hour than they planned to pay.
d. Choices b and c are both true.

a

Business

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