Question: Match each term to the correct definition Terms a Benchmarking

Match each term to the correct definition.
Terms:
a. Benchmarking
b. Efficiency variance
c. Cost variance
d. Standard cost

Definitions:
1. Measures whether the quantity of materials or labor used to make the actual number of outputs is within the standard allowed for the number of outputs.
2. Uses standards based on best practice.
3. Measures how well the business keeps unit costs of materials and labor inputs within standards.
4. A price, cost, or quantity that is expected under normal conditions.


View Solution:


Sale on SolutionInn
Sales3
Views352
Comments
  • CreatedJanuary 16, 2015
  • Files Included
Post your question
5000