The _____ people are the earliest known inhabitants of Africa's Mediterranean coast - 832289
The purchasing department is often responsible for the events that create a direct materials price variance. TRUE ___2. A flexible budget expresses variable costs on a per unit basis and fixed costs on a total basis. TRUE ___3. A flexible budget expresses all costs on a per unit basis. FALSE ___4.
The difference between standard costs and actual costs is calculated and analyzed periodically to alert management about the impact on the product's profitability. 1  1. Set up a standard costing system for direct materials. 2  2. Calculate direct material price variance. 3  3. Calculate direct material quantity variance.