Multiple Choice
Which of the following statements regarding standard cost systems is true?
A) Favorable variances are not necessarily good variances.
B) Managers will investigate all variances from standard.
C) The production supervisor is generally responsible for material price variances.
D) Standard costs cannot be used for planning purposes since costs normally change in the future.
Correct Answer:

Verified
Correct Answer:
Verified
Q174: Which of the following standards can
Q175: Brennan Company<br>The following information is for
Q176: Pearce Company<br>Pearce Company uses a standard cost
Q177: Jenkins Manufacturing<br>The following information is available
Q178: The difference between actual and budgeted fixed
Q180: Commodore Company<br>Commodore Company uses a standard cost
Q181: Wimberley Company<br>Wimberley Company has the following
Q182: A company may set predetermined overhead rates
Q183: Actual fixed overhead is $33,300 (12,000 machine
Q184: When multiple labor categories are used,the financial