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Hello Tutor, I have a question about the variance analysis which it’s taken from Bpp textbook quick quiz section and question is
” If the closing inventories of raw material are valued at standard cost, the material price variance is calculated on material purchases in the period”
The answer is True and my question is does it also mean if the closing inventories valued a rather than standard cost , the material price variance calculated on the material used?Thank you .
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