In standard costing, overhead is applied to a product by debiting work in process and crediting variable and fixed overhead control accounts.
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Q2: Developing standards for input prices and quantities
Q3: All variances accounts are closed out at
Q4: Standard costs are the amount that should
Q5: Standard costing is used in process industries
Q6: The variable overhead efficiency variance measures the
Q8: A mix variance is created whenever the
Q9: The most detailed method to compute overhead
Q10: Both manufacturing and service firms may use
Q11: The standard cost sheet shows costs needed
Q12: the direct materials mix variance is the
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