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).
3. This direct materials variance is often calculated at the time the materials are received.
PRICE ICERP4. If employees are paid $15 per hour and the standard cost is $14 per hour, there will be a labor _______ variance.
RATE TREA5. The labor quantity variance is often referred to as the labor _______________ variance.
EFFICIENCY FYIECECNIF6. When the standard cost is less than the actual cost, the variance is _______________.
UNFAVORABLE FBOVRALEANU9. A budget that changes with the volume of good output is a ___________ budget.
FLEXIBLE EELXFLBI10. The fixed manufacturing overhead __________ variance should not be affected by a reasonable change in the volume of output.
BUDGET GDUEBT
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