Word Scramble for...
If you have difficulty answering the following questions, learn more about this topic by reading our Explanation of Standard Costing.
|1.||Differences between standard costs and actual costs.||SANEICAVR||VARIANCES|
|2.||A word used for the direct materials quantity variance.||SGAUE||USAGE|
|3.||This direct materials variance is often calculated at the time the materials are received.||CPEIR||PRICE|
|4.||If employees are paid $15 per hour and the standard cost is $14 per hour, there will be a labor _______ variance.||AERT||RATE|
|5.||The labor quantity variance is often referred to as the labor _______________ variance.||NEYIICFFEC||EFFICIENCY|
|6.||When the standard cost is less than the actual cost, the variance is _______________.||RABEULFVNOA||UNFAVORABLE|
|7.||The standard unit cost is applied to the units of good __________.||TTUUPO||OUTPUT|
|8.||This variance is associated with fixed manufacturing overhead.||LEOMVU||VOLUME|
|9.||A budget that changes with the volume of good output is a ___________ budget.||BFLLXEEI||FLEXIBLE|
|10.||The fixed overhead __________ variance should not be affected by a reasonable change in the volume of output.||GTUDEB||BUDGET|
Get access to the printable (PDF) version of our puzzles when you join AccountingCoach Pro.
13 videos (2 hours total) taken from our Bookkeeping Basics Seminar.
These videos are only available in our new AccountingCoach Pro members area.
300 questions with answers
This exam is only available in our new AccountingCoach Pro members area.
Join our Newsletter
Receive our free 19-page accounting cheat sheet. Plus, stay up to date with the latest questions answered.