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 RPCEI4. 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 YCNIFECIEF6. When the standard cost is less than the actual cost, the variance is _______________.
UNFAVORABLE UNLOEFBVARA9. A budget that changes with the volume of good output is a ___________ budget.
FLEXIBLE XEFIBLLE10. The fixed overhead __________ variance should not be affected by a reasonable change in the volume of output.
BUDGET UBGDET
Get Our Premium Standard Costing Test Questions When You Join PRO
Receive instant access to our entire collection of premium materials, including our 1,800+ test questions.
View All PRO Features
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,651 reviewsFeatures
PRO
PRO Plus
For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.
Read 2,651 Testimonials
