Ask Question
21 February, 05:02

The difference between actual price per unit of input and the standard price per unit of input results in a:

+5
Answers (1)
  1. 21 February, 06:22
    0
    Price variance

    Explanation:

    In the context of finance, the variance means the difference between standard and the actual

    If we talk about the price variance then it is a difference between the standard price of input and actual price per unit of input

    In mathematically,

    Price variance = Actual price per unit of input - standard price per unit of input results

    Whereas material price variance would be

    Material price variance = Actual Quantity * (Standard Price - Actual Price)

    If the answer comes in favorable that means the standard is high then the actual and in the case of unfavorable, the standard is less then the actual
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The difference between actual price per unit of input and the standard price per unit of input results in a: ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers