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Match the Following Descriptions with the Term (A-E) It Describes

Question 1

Matching

Match the following descriptions with the term (a-e) it describes:

Premises:

Responses:

theoretical standard

Ideal standard

actual cost

Currently attainable standard

actual cost > standard cost at actual volumes

Favorable cost variance

an example is the number of customer complaints

Unfavorable cost variance

normal standard

Nonfinancial performance measure

Premises:

theoretical standard

actual cost

actual cost > standard cost at actual volumes

an example is the number of customer complaints

normal standard

Responses:

Ideal standard

Currently attainable standard

Favorable cost variance

Unfavorable cost variance

Nonfinancial performance measure

Correct Answer:

Premises:

Responses:

theoretical standard

Ideal standard

actual cost > standard cost at actual volumes

Unfavorable cost variance

an example is the number of customer complaints

Nonfinancial performance measure

normal standard

Currently attainable standard

actual cost

Favorable cost variance