Multiplying the standard price of direct materials by the standard quantity for

Question

Multiplying the standard price of direct materials by the standard quantity for direct materials yields the direct materials price variance. the direct materials quantity variance. the standard direct materials cost. nothing; the two components should be added together. Standard unit costs generally do not include which of the following? Direct materials costs Indirect materials costs President's salary Depreciation on machinery The primary difference between a fixed (static) budget and a flexible budget is that a fixed budget cannot be changed after the period begins, whereas a flexible budget can be changcd after the period begins. is concerned only with future acquisitions of fixed assets, whereas a flexible budget is concerned with expenses that vary with sales. is a plan for a single level of production, whereas a flexible budget is several plans (one for each of several production levels). includes only fixed costs, whereas a flexible budget includes only variable costs. If the actual amount of direct materials used equals the standard amount of direct materials that should have been used, the difference between the standard cost and actual cost of direct materials is called the price variance. rate variance. quantity variance. efficiency variance. The total variable overhead variance is comprised of the variable overhead efficiency and fixed variances. fixed overhead budget and volume variances. variable overhead spending and efficiency variances. labor efficiency an rate variances. In a standard costing system, standard costs eventually flow into the Cost of Goods Sold account. Standard Cost account. Selling and Administrative Expenses account. Sales account.

Explanation / Answer

Solution 21 d 22 c 23 a 24 c 25 c 26 a

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