Answered

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The difference between the standard cost of a product and its actual cost is called a variance.

a. true
b. false

Sagot :

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The difference between the standard cost of a product and its actual cost is called a cost variance. Therefore the statement is true.

What is the objective of variance?

Changing across all of the pieces of information in a data set, variance is a measurement of distribution. It enables us to estimate how far away a set of factors are from each other.

To describe the variation or difference between the standard cost of a product and its actual cost the use of cost variance is done. It is utilized to estimate the financial performance of any project.

Therefore, the statement is True.

Learn more about Variance, here:

https://brainly.com/question/16269880

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