Chapter 10 connect
The standard quantity allowed is _______.
the amount of an input that should have been used to complete the actual output for the period.
In a standard cost system _______.
overhead is applied to products based on the standard hours allowed for the actual output multiplied by the predetermined overhead rate.
Most companies compute the materials price variance when raw materials are _______.
received from suppliers and transported to raw materials inventory.
The standard hours allowed is ________.
he direct labor-hours that should have been used to complete the actual output for the period.
The standard quantity per unit defines the ________.
amount of direct materials that should be used for each unit of finished product including an allowance for normal inefficiencies, such as scrap and spoilage.
A flexible budget performance report for variable manufacturing costs shows _______.
both the activity variances and the spending variances.
When computing variable manufacturing overhead variances, the standard rate represents the
variable portion of the predetermined overhead rate.
Assume that direct labor-hours are used as the overhead allocation base. If the direct labor efficiency variance is unfavorable, the variable overhead efficiency variance ________.
will be unfavorable
