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Bookkeeping Concepts

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Standard Costing (Word Scramble)

To see each answer, press or click on the blue "Unscramble" button.

If you have difficulty answering the following questions, learn more about this topic by reading our Standard Costing (Explanation).

1. Differences between standard costs and actual costs. VARIANCES SANEICAVR Unscramble
2. A word used for the direct materials quantity variance. USAGE SGAUE Unscramble
3. This direct materials variance is often calculated at the time the materials are received. PRICE CPEIR Unscramble
4. If employees are paid $15 per hour and the standard cost is $14 per hour, there will be a labor _______ variance. RATE AERT Unscramble
5. The labor quantity variance is often referred to as the labor _______________ variance. EFFICIENCY NEYIICFFEC Unscramble
6. When the standard cost is less than the actual cost, the variance is _______________. UNFAVORABLE RABEULFVNOA Unscramble
7. The standard unit cost is applied to the units of good __________. OUTPUT TTUUPO Unscramble
8. This variance is associated with fixed manufacturing overhead. VOLUME LEOMVU Unscramble
9. A budget that changes with the volume of good output is a ___________ budget. FLEXIBLE BFLLXEEI Unscramble
10. The fixed overhead __________ variance should not be affected by a reasonable change in the volume of output. BUDGET GTUDEB Unscramble