Matching
Match the following:
Premises:
The difference between the actual overhead cost incurred and the flexible bud get amount of overhead cost for actual production
The difference between the actual and standard unit price of input, multiplied by the actual quantity of input
A carefully predetermined cost that usually is expressed on a per unit basis
The difference between an actual result and a flexible bud get amount for the actual output
Using standards based on the "best practice" level of performance
The difference between an actual amount and the corresponding bud geted amount
The difference between the overhead cost in the flexible bud get for actual production and the standard overhead cost allocated to production
The difference between the actual quantity of input and standard quantity of input allowed for actual output, multiplied by the standard unit price of input
A summarized bud get that can easily be computed for several volume levels
The budget prepared for only one level of sales volume
Arises because the number of units actually sold differs from the static budget units
Responses:
Flexible bud get variance
Efficiency variance
Price variance
Overhead flexible budget variance
Static budget
Standard cost
Benchmarking
Production volume variance
Variance
Sales volume variance
Flexible bud get
Correct Answer:
Premises:
Responses:
The difference between the actual overhead cost incurred and the flexible bud get amount of overhead cost for actual production
The difference between the actual and standard unit price of input, multiplied by the actual quantity of input
A carefully predetermined cost that usually is expressed on a per unit basis
The difference between an actual result and a flexible bud get amount for the actual output
Using standards based on the "best practice" level of performance
The difference between an actual amount and the corresponding bud geted amount
The difference between the overhead cost in the flexible bud get for actual production and the standard overhead cost allocated to production
The difference between the actual quantity of input and standard quantity of input allowed for actual output, multiplied by the standard unit price of input
A summarized bud get that can easily be computed for several volume levels
The budget prepared for only one level of sales volume
Arises because the number of units actually sold differs from the static budget units
Premises:
The difference between the actual overhead cost incurred and the flexible bud get amount of overhead cost for actual production
The difference between the actual and standard unit price of input, multiplied by the actual quantity of input
A carefully predetermined cost that usually is expressed on a per unit basis
The difference between an actual result and a flexible bud get amount for the actual output
Using standards based on the "best practice" level of performance
The difference between an actual amount and the corresponding bud geted amount
The difference between the overhead cost in the flexible bud get for actual production and the standard overhead cost allocated to production
The difference between the actual quantity of input and standard quantity of input allowed for actual output, multiplied by the standard unit price of input
A summarized bud get that can easily be computed for several volume levels
The budget prepared for only one level of sales volume
Arises because the number of units actually sold differs from the static budget units
Responses:
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