92% found this document useful (12 votes) 12K views 52 pages quiz in standard accouunting © Attribution Non-Commercial
(BY-NC) DOC, PDF, TXT or read online from ScribdDescription:
Copyright
Available Formats
Share this document
Did you find this document useful?
92% found this document useful (12 votes)
12K views52 pages
Quiz Standard Costing 2222012 Print
You're Reading a Free Preview
Pages 9 to 20 are not shown in this preview.
You're Reading a Free Preview
Pages 26 to 37
are not shown in this preview.
You're Reading a Free Preview
Pages 41 to 48 are not shown in this preview.
Chapter 7--Standard Costing and Variance Analysis
TRUE/FALSE
1.Specifications for materials are compiled on a bill of materials.
ANS:TDIF:EasyOBJ:7-2
2.Specifications for materials are compiled on a purchase requisition.
ANS:FDIF:Easy OBJ:7-2
3.An operations flow document shows all processes necessary to manufacture one unit of a product.
ANS:TDIF:EasyOBJ:7-2
4.A standard cost card is prepared after manufacturing standards have been developed for direct
materials, direct labor, and factory overhead.
ANS: TDIF:EasyOBJ:7-2
5.A standard cost card is prepared before developing manufacturing standards for direct materials, direct
labor, and factory overhead.
ANS:FDIF:EasyOBJ:7-2
6.The total variance can provide useful information about the source of cost differences.
ANS:FDIF:EasyOBJ:7-2
7.The total variance does not provide useful information about the source of cost differences.
ANS:TDIF:EasyOBJ:7-2
8.The formula for price/rate variance is (AP - SP) x AQ
ANS:T DIF:ModerateOBJ:7-2
9.The formula for price/rate variance is (AP - SP) x SQ
ANS:FDIF:ModerateOBJ:7-2
10.The price variance reflects the difference between the quantity of inputs used and the standard quantity
allowed for the output of a period.
ANS: FDIF:ModerateOBJ:7-2
11.The price variance reflects the difference between the price paid for inputs and the standard price for
those inputs.
ANS:TDIF:ModerateOBJ:7-2
248
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.
Why is this page out of focus?
This is a Premium document. Become Premium to read the whole document.