A standard cost system records cost at their actual amounts.A standard cost system records cost at standard rather than actual amounts.
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Q9: The price variance for direct labor is
Q10: When preparing a flexible budget,fixed costs should
Q11: A budget depends upon the level of
Q12: Fixed overhead does not have separate price
Q13: The production manager is typically responsible for
Q15: The direct material quantity variance is the
Q16: The fixed overhead volume variance is the
Q17: A quantity standard is the amount of
Q18: A spending variance is calculated by comparing
Q19: An ideal standard is one which can
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