Multiple Choice Questions: 1) Which of the following is an example of a materials cost standard? A)
Question:
Multiple Choice Questions:
1) Which of the following is an example of a materials cost standard?
A) $40 per direct labor hour
B) 50 square feet per unit
C) $0.95 Per square foot
D) 6 direct labor hours per unit
2) Which of the following is an example of a materials efficiency standard?
A) $40 per direct labor hour
B) 50 square feet per unit
C) $0.95 Per square foot
D) 6 direct labor hours per unit
3) Which of the following is an example of a labor cost standard?
A) $40 per direct labor hour
B) 50 square feet per unit
C) $0.95 Per square foot
D) 0.5 direct labor hours per unit
4) Which of the following is an example of a labor efficiency standard?
A) $20 per direct labor hour
B) 50 square feet per unit
C) $0.95 Per square foot
D) 6 direct labor hours per unit
5) What do cost variances measure?
A) The difference between the prices the company pays and the price its competitors pay
B) The change in costs over time
C) The difference between actual and standard cost
D) The volume discounts companies receive when ordering materials in large quantities
Expert Answer:
