Multiple Choice
Which of the following statements about standard costs is FALSE?
A) Properly set standards should promote efficiency.
B) Standard costs facilitate management planning.
C) Standards should not be used in "management by exception."
D) Standard costs can simplify the costing of inventories.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: The matrix approach to variance analysis<br>A) will
Q19: The total materials variance is equal to
Q59: There could be instances where the production
Q66: A good system of standard costing always<br>A)ensures
Q68: An unfavourable labour quantity variance may be
Q69: Which of the following could cause a
Q71: The fixed overhead spending variance is calculated
Q72: Which of the following statements describes the
Q74: Which of the following is false?<br>A)The total
Q75: The per-unit standards for direct labour are