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Which of the following is true regarding variances? a.Unfavorable variances are always credits. b.Favorable variances are always debits. c.Unfavorable variances occur whenever actual prices or

Which of the following is true regarding variances?

a.Unfavorable variances are always credits.

b.Favorable variances are always debits.

c.Unfavorable variances occur whenever actual prices or actual usage of inputs are greater than standard prices or standard usage.

d.Favorable variances occur whenever actual prices or actual usage of inputs are greater than standard prices or standard usage.

e.None of these choices are correct.

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