Standard prices are supplied in carriers for a variety of reasons. Which of the following is not one of the benefits for utilizing standard costs? | Used to indicate where changes in innovation and also machinery should be made. |
Manufacturing service providers use standard prices for the adhering to except: | Variable costs |
Several human being play a crucial component in establishing requirements. Which of the adhering to is incorrect regarding setting standards? | Quality managers administer high quality actions that will be supplied to evaluate rejects. |
Standards that reexisting levels of operation that have the right to be attained through reasonable effort are called: | normal standards |
Which of the following conditions commonly would not indicate that standard expenses must be revised? | Actual prices differed from typical prices for the coming before week. |
The principle of exceptions permits managers to | focus on correcting variances between typical expenses and actual costs. |
The standard price and quantity of straight materials are separated because: | direct products prices are controlled by the purchasing department, and amount provided is regulated by the production department |
Standard expenses are divided into which of the complying with components? | Price Standard and Quantity Standard |
A favorable price variance occurs when | Standard prices are even more than actual costs. |
Total production cost variance includes: | Direct materials expense variance, direct labor cost variance, factory overhead cost variance |
Periodic comparisons between planned goals and also actual performance are reported in: | budacquire performance reports |
Which of the adhering to is not a reason conventional costs are separated in 2 components? | variances brings attention to discrepancies in the budacquire and calls for supervisors to revise budgets closer to actual. |
If the actual quantity of straight products offered in developing a commodity differs from the conventional amount, the variance is termed: | quantity variance |
If the price paid per unit differs from the conventional price per unit for straight products, the variance is termed: | price variance |
If the wage rate passist per hour differs from the conventional wage price per hour for straight labor, the variance is termed: | price variance |
If the actual straight labor hours spent developing a commodity differ from the conventional hrs, the variance is termed: | time variance |
The formula to compute straight product quantity variance is to calculate the difference between | (actual amount * standard price) – traditional costs |
The formula to compute straight labor rate variance is to calculate the distinction between | actual costs – (actual hrs * conventional rate) |
The formula to compute straight labor time variance is to calculate the difference between | (actual hours * conventional rate) – traditional costs |
Which of the following would not lfinish itself to applying straight labor variances? | Administrative assistant |
Which of the following is not a reason for a straight products quantity variance? | Material requiring rework |
The formula to compute straight materials price variance is to calculate the distinction between | actual costs – (actual quantity * traditional price) |
Assuming that the standard addressed overhead price is based upon complete capacity, the cost of available but unused productive capacity is shown by the: | factory overhead expense volume variance |
The controllable variance measures: | the efficiency of making use of variable overhead resources |
The unfavorable volume variance might be as a result of all but the following factors: | unintended rises in the price of utilities |
Favorable volume variances might be harmful when: | manufacturing in excess of normal capacity cannot be sold |
Incurring actual indirect factory wperiods in excess of budgeted quantities for actual manufacturing outcomes in a: | manageable variance |
A negative addressed overhead volume variance deserve to be led to because of the following except: | Increase in energy costs |
The use of standards for nonproduction costs is: | not as common as it is for production costs |
If at the finish of the fiscal year the variances from standard are significant, the variances should be moved to the: | job-related in procedure, cost of products marketed, and also finimelted products accounts |
Variances from conventional prices are usually reported to: | management |
At the end of the fiscal year, variances from typical expenses are commonly moved to the: |