Which of the following is the correct formula for measuring an efficiency variance? A. Efficiency Variance = (Actual Quantity times Standard Quantity) / Standard Cost B. Efficiency Variance = (Actual Quantity / Standard Quantity) times Standard Cost C. Efficiency Variance = (Actual Quantity minus Standard Quantity) times Standard Cost D. Efficiency Variance = (Actual Quantity + Standard Quantity) minus Standard Cost

C. Efficiency Variance = (Actual Quantity minus Standard Quantity) times Standard Cost

Explanation:

The efficiency variance is the variance in which it shows a difference between the actual and standard quantities and then the difference amount is multiplied with the standard cost

In mathematically,

Efficiency Variance = (Actual Quantity - Standard Quantity) × Standard Cost

Hence, the correct option is C.

answer; specific performance;