5. The difference between the split cost and the standard cost for direct materials is called the: A. Materials Price Variance

B. Materials Efficiency Variance C. Materials Usage Variance

D. Materials Budget Variance

6. The standard direct labor per-unit cost is equal to: A. Expected hours Standard wage rate

B. Standard hours Standard wage rate C. Actual hours Expected wage rate

D. Expected hours Actual wage rate

7. Which of the following areas is not a category on the balanced scorecard? A. Customer Satisfaction

B. Learning and growth C. Financial Performance

D. Internal strategy development

8. Return on Sales is calculated as: A. Operating Income / Sales

B. Contribution Margin / Sales C. Sales / Operating Income

D. Sales / Contribution Margin

9. The time value of money dictates that money received today will be worth ______ in the future than it is worth today?

A. Less B. More

C. The same

D. It depends on the discount

10. The formula for calculating the depreciation tax shield is: A. Depreciation expense / (1 - tax rate)

B. Depreciation expense / tax rate

C. Depreciation expense (1 - tax rate) D. Depreciation expense tax rate