Question:Each of the following formulas is correct except: 

A Labor price variance=(Actual hours x Actual rate) - (Actual hours x Standards rate) 
B Overhead controllable variance = Actual overhead - Overhead budgeted. 
C Materials price variance = (Actual quantity x Actual cost) - (Standards quantity x  Standards cost) 
D Overhead volumne variance = Overhead budgeted - Overhead applied 

+ Answer
C 

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Md. Saydul Alam

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