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3. This direct materials variance is often calculated at the time the materials are received.
PRICE PICER4. If employees are paid $15 per hour and the standard cost is $14 per hour, there will be a labor _______ variance.
RATE TEAR5. The labor quantity variance is often referred to as the labor _______________ variance.
EFFICIENCY ECIFCEINFY6. When the standard cost is less than the actual cost, the variance is _______________.
UNFAVORABLE ANLOBVAUREF9. A budget that changes with the volume of good output is a ___________ budget.
FLEXIBLE IELBLXEF10. The fixed overhead __________ variance should not be affected by a reasonable change in the volume of output.
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