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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|