You are watching: Standard costs are divided into which of the following components?
The formula come compute direct materials price variance is to calculate the difference between a. Actual expense + typical costs. B. Actual expense - standard costs. C. Actual expenses - (actual amount * traditional price). D. (actual quantity * typical price) -standard costs.
The formula come compute straight material quantity variance is to calculation the difference in between a. (actual quantity * traditional price) - traditional costs. B. Actual costs - (standard price * conventional costs). C. Actual prices - conventional costs. D. Standard prices - really costs.
The formula come compute straight labor time variance is to calculate the difference between a. Actual prices - (actual hrs * traditional rate). B. (actual hours * traditional rate) - traditional costs. C. Actual expenses - conventional costs. D. Actual expenses + conventional costs.
The formula to compute straight labor rate variance is to calculation the difference in between a. Actual prices - conventional cost. B. (actual hours * typical rate) - standard costs. C. Actual prices - (actual hours * conventional rate). D. Actual costs + (actual hrs * typical rate).
Standard expenses are divided into i m sorry of the adhering to components? a. Top quality Standard and Quantity traditional b. Price Standard and also Quantity typical c. Variance Standard and also Quantity typical d. Products Standard and Labor Standard
Standard prices are used in carriers for a range of reasons. Which of the complying with is not one of the services for using typical costs? a. Offered to identify inventory b. Provided to manage costs. C. Used to suggest where alters in modern technology and machinery must be made. D. Used to setup direct materials, direct labor, and also factory factory overhead.
A favorable expense variance occurs once a. Standard costs are much less than really costs. B. Actual costs are much more than typical costs. C. Standard prices are much more than yes, really costs. D. Nobody of these options are correct.
The standard price and quantity of straight materials room separated because: a. Straight materials prices are managed by the to buy department, and quantity offered is managed by the production department. B. GAAP reporting calls for this separation. C. Standard prices change much more frequently than typical quantities. D. Standard quantities are more challenging to estimate than standard prices.
a. Straight materials prices are regulated by the purchasing department, and also quantity provided is controlled by the manufacturing department.
Check mine WorkWhich that the following problems normally would certainly not suggest that standard prices should be revised? a. The firm has signed a brand-new union contract which increases the manufacturing facility wages on mean by $5.00 one hour. B. The design department has revised product specifications in responding to client suggestions. C. Actual prices differed from standard costs for the preceding week. D. The human being price of raw materials increased.
See more: 40000+ Best Black And White Girl Pictures, And Royalty, 100+ Black And White Girl Pictures
The total manufacturing cost variance consists of: a. Direct materials price variance, direct labor price variance, manufacturing facility overhead price variance b. Direct materials price variance, direct labor price variance, and also factory overhead cost variance c. Straight materials price variance, straight labor price variance, variable factory overhead controllable variance d. Straight materials price variance, straight labor cost variance, and also fixed factory overhead volume variance
Periodic comparisons between planned objectives and also actual performance are reported in: a. Master budgets. B. Zero-base reports. C. Budget plan performance reports. D. Budgets.
If the actual straight labor hrs spent producing a commodity different from the conventional hours, the variance is termed a: a. Price variance. B. Amount variance. C. Price variance. D. Time variance
Check mine WorkThe principle of exceptions allows managers to: a. Emphasis on correcting variances in between competitor"s costs and actual costs. B. Focus on correcting variances in between competitor"s costs and standard costs. C. Focus on correcting variances between variable costs and actual costs. D. Emphasis on correcting variances between standard costs and also actual costs