Standard Costing

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

NOTE: To see each answer, place your cursor in the middle of the cell under "Unscrambled Answer".

	Word Clue	Scrambled Answer	Unscrambled Answer
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

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