Standards that represent levels of operation that can be attained via reasonable effort are called: a. Ideal criteria. b. Theoretical requirements. c. Typical requirements. d. Variable requirements.
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The formula to compute direct materials price variance is to calculate the distinction between a. Actual price + typical expenses. b. Actual price - standard prices. c. Actual costs - (actual quantity * traditional price). d. (actual quantity * traditional price) -typical costs.
The formula to compute straight material amount variance is to calculate the distinction in between a. (actual quantity * traditional price) - typical costs. b. Actual expenses - (typical price * conventional costs). c. Actual costs - conventional prices. d. Standard expenses - actual costs.
The formula to compute direct labor time variance is to calculate the difference in between a. Actual prices - (actual hrs * traditional rate). b. (actual hours * conventional rate) - conventional prices. c. Actual costs - conventional costs. d. Actual prices + conventional costs.
The formula to compute direct labor price variance is to calculate the distinction in between a. Actual expenses - typical cost. b. (actual hrs * traditional rate) - traditional prices. c. Actual prices - (actual hrs * standard rate). d. Actual expenses + (actual hours * traditional rate).
Standard expenses are split right into which of the following components? a. Quality Standard and Quantity Standard b. Price Standard and Quantity Standard c. Variance Standard and also Quantity Standard d. Materials Standard and Labor Standard
Standard prices are provided in service providers for a selection of reasons. Which of the adhering to is not among the benefits for using standard costs? a. Used to determine inventory b. Used to control expenses. c. Used to show where transforms in technology and machinery must be made. d. Used to arrangement straight materials, direct labor, and manufacturing facility factory overhead.
A favorable cost variance occurs when a. Standard costs are much less than actual prices. b. Actual prices are even more than typical prices. c. Standard expenses are even more than actual prices. d. Namong these choices are correct.
The standard price and also quantity of direct materials are separated because: a. Direct products prices are regulated by the purchasing department, and quantity supplied is managed by the manufacturing department. b. GAAP reporting calls for this separation. c. Standard prices readjust more commonly than traditional amounts. d. Standard amounts are even more tough to estimate than traditional prices.
a. Direct products prices are managed by the purchasing department, and also quantity provided is controlled by the production department.
Check My WorkWhich of the complying with problems commonly would certainly not show that conventional prices need to be revised? a. The firm has actually signed a new union contract which boosts the manufacturing facility weras on average by $5.00 an hour. b. The engineering department has actually revised product specifications in responding to customer suggestions. c. Actual expenses differed from typical expenses for the coming before week. d. The people price of raw materials increased.
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The complete manufacturing price variance consists of: a. Direct products expense variance, direct labor cost variance, factory overhead expense variance b. Direct materials expense variance, direct labor price variance, and also factory overhead price variance c. Direct materials cost variance, direct labor expense variance, variable manufacturing facility overhead controlled variance d. Direct materials price variance, direct labor expense variance, and also fixed factory overhead volume variance
Periodic comparisons in between planned goals and actual performance are reported in: a. Master budgets. b. Zero-base reports. c. Budget performance reports. d. Budgets.
If the actual direct labor hrs invested creating a commodity differs from the traditional hrs, the variance is termed a: a. Price variance. b. quantity variance. c. Rate variance. d. Time variance
Check My WorkThe principle of exceptions allows supervisors to: a. Focus on correcting variances in between competitor"s expenses and actual costs. b. Focus on correcting variances in between competitor"s expenses and also standard prices. c. Focus on correcting variances between variable prices and actual costs. d. Focus on correcting variances in between traditional costs and also actual costs