Under standard costing direct materials are recorded in raw materials inventory at the actual cost.
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Q18: The only variance for overhead is the
Q19: Revenue drivers include competition, market share and
Q20: Total budgeted revenues can be calculated using
Q21: The total direct labour variance can be
Q22: The static budget compared to the flexible
Q24: The direct materials efficiency variance compares the
Q25: The information required for the market size
Q26: Change in market size multiplied by budgeted
Q27: The product mix variance is only useful
Q28: Variable costs per unit of volume increase
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