Multiple Choice QuestionWhich of the following is the correct formula?Multiple choice question.Cost variance = (AQ x AP) - (AQ x SP)Cost variance = (AQ - SQ) x SPCost variance = (AQ x AP) - (SQ x SP)Cost variance = (AP -SP) x AQ

The spending variance is Blank______.Multiple choice question.(AQ × AP) − (SQ × SP)(AQ × AP) − (AQ × SP)(AQ × SP) − (SQ × SP)

Multiple Choice QuestionXYZ Company makes one product and has calculated the following amounts for direct materials: AQ x AP = $150,000; AQ x SP = $145,000; SQ x SP = $152,000. Compute the direct materials price variance.Multiple choice question.$5,000 U$7,000 F$5,000 F$7,000 U

Multiple Choice QuestionXYZ Company makes one product and has calculated the following amounts for direct labor: AH x AR = $84,000; AH x SR = $83,000; SH x SR = $85,000. Compute the direct labor cost variance.Multiple choice question.$2,000 F$2,000 U$1,000 U$1,000 F

Select all that applyWhich terms are used to describe the cost per unit of input variance for different product cost components (raw materials, direct labor, and manufacturing overhead)?Multiple select question.Rate varianceSpending variancePrice varianceEfficiency variance

XYZ Company makes a product and has calculated the following amounts for direct materials: AQ x AP = $150,000; AQ x SP = $145,000; SQ x SP = $152,000. Compute the direct materials quantity variance.Multiple choice question.