The process of comparing actual information about input costs and usage to standards is:
A)standard costing
B)process costing
C)variance analysis
D)activity based costing

Question

Quizplus · Accepted Answer

The process of comparing actual information about input costs and usage to standards is called variance analysis. The other options are different costing methods that may be used in tandem with variance analysis, but they do not describe the specific process of comparing actual against standard performance.

The Process of Comparing Actual Information About Input Costs and Usage