question archive 8)If the actual cost is lower than the standard cost, the difference would be known as A
8)If the actual cost is lower than the standard cost, the difference would be known as A
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8)If the actual cost is lower than the standard cost, the difference would be known as A. Adverse B. Favorable C. Negative D. Positive
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1.The difference between actual cost and standard cost is called variance.
2. If actual cost is higher than standard cost, then the variance is unfavorable .
3.If actual cost is lower than the standard cost, then the variance is favorable.
Hence correct option is B.
