# Accounting 2 test 3 part 3

Total word count: 264
Pages: 1

### Calculate the Price

- -
275 words
Looking for Expert Opinion?
Let us have a look at your work and suggest how to improve it!
 If the price paid per unit differs from the standard price per unit for direct materials, the variance is termed a: price variance Variances from standard costs are usually reported to: management Periodic comparisons between planned objectives and actual performance are reported in: budget performance reports The formula to compute direct labor rate variance is to calculate the difference between Actual Costs – (Actual Hours Standard Rate) The principle of exceptions allows managers to focus on correcting variances between standard costs and actual costs If the actual quantity of direct materials used in producing a commodity differs from the standard quantity, the variance is termed a: quantity variance A favorable cost variance occurs when Standard costs are more than actual costs The total manufacturing cost variance consists of: Direct materials cost variance, direct labor cost variance, factory overhead cost variance A negative fixed overhead volume variance can be caused due to the following except: Increase in utility costs The total manufacturing cost variance is the difference between actual costs and standard costs for units produced If the actual direct labor hours spent producing a commodity differ from the standard hours, the variance is termed a: time variance The formula to compute direct material quantity variance is to calculate the difference between (Actual Quantity x Standard Price) – Standard Costs The controllable variance measures: the efficiency of using variable overhead resources The use of standards for nonmanufacturing expenses is: not as common as it is for manufacturing costs Standards that represent levels of operation that can be attained with reasonable effort are called: normal standards

### More flashcards like this

#### NCLEX 10000 Integumentary Disorders

When assessing a client with partial-thickness burns over 60% of the body, which finding should the nurse report immediately? a) ...

#### NCLEX 300-NEURO

A client with amyotrophic lateral sclerosis (ALS) tells the nurse, "Sometimes I feel so frustrated. I can’t do anything without ...

#### NASM Flashcards

Which of the following is the process of getting oxygen from the environment to the tissues of the body? Diffusion ...

## Unfinished tasks keep piling up?

Let us complete them for you. Quickly and professionally.

Check Price 