06 Standard Cost Variance Analysis Flashcards
1
Q
Variance analysis is what type of function
A
Control
2
Q
Revenue variance and production variance is difference between ______ revenue/cost and __________ revenue/cost.
A
actual; flexible budget
3
Q
only significant variances need to be analyzed
A
management by exception
4
Q
variance analysis measures ______ and ______.
A
effectiveness and efficiency
5
Q
Type of costing that records variances
A
absorption costing
6
Q
Treatment of variances
A
insignificant - close to COGS
significant - apportion to COGS and inventory
7
Q
A
8
Q
A
9
Q
A
10
Q
A
11
Q
A
12
Q
A
13
Q
A
14
Q
A
15
Q
A
