The budgeted input quantity is added in to efficiency variance to calculate _____________?
Correct answer: A. actual input quantity
- A. actual input quantity
- B. actual output quantity
- C. actual input price
- D. actual output priceAccess Government Careers
Explanation
The actual input quantity is found by combining the budgeted or standard input quantity with the efficiency difference. Thus, the budgeted input quantity plus the excess or shortfall in input gives actual input quantity.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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