Multiple Choice
Which of the following statements is true?
A) Variances are the differences between total actual costs and total standard costs.
B) When actual costs exceed standard costs the variance is favorable.
C) An unfavorable variance results when actual costs are decreasing but standards are not changed.
D) All of the above are true.
Correct Answer:
Verified
Correct Answer:
Verified
Q190: Platt Company produces one product a putter
Q191: Edgar Inc. has a materials price standard
Q192: Actual costs that vary from standard costs
Q193: Budget data are not journalized in cost
Q194: Variance reports are<br>A) external financial reports.<br>B) SEC
Q196: The direct materials quantity standard should<br>A) exclude
Q197: Jackson Manufacturing planned to produce 20000
Q198: The standard direct labor cost for producing
Q199: Dart Company developed the following standard
Q200: In concept standards and budgets are essentially