Multiple Choice
Which statement relating to standard costs is not true?
A) The approach is not suitable for a service business.
B) An unfavourable variance occurs when actual costs exceed standard costs.
C) They are predetermined costs.
D) They serve as benchmarks against which actual performance can be evaluated.
Correct Answer:
Verified
Correct Answer:
Verified
Q37: If consideration is being given to closing
Q38: Management by exception means:<br>A) only investigating variances
Q39: Compute the correct variances: budgeted sales $156
Q40: A standard cost accounting system can be
Q41: Blurbery Retailers has departments A and B
Q43: Redoing the budget to actual output is
Q44: Which of these is a key purpose
Q45: The fixed budget performance report of Millar
Q46: In current times the focus of managers
Q47: Anniversary Roses uses a special mix of