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Question 15

Efficiency variances focus on the difference between

a) actual quantity used and standard quantity allowed for estimated activity

b) actual quantity used and standard quantity allowed for units actually produced

c) quantity allowed for estimated production and standard quantity allowed for units actually produced

d) none of the above

Question 20

During May, 6,000 pounds of raw materials were purchased at a cost of $2.60 per pound. If there was a favorable materials price variance of $900 for December, the standard cost per pound must be

	a) $2.75
	b) $2.60
	c) $2.45
	d) none of the above

Question 21

Decentralization occurs when

	a) the firm's operations are located over a large geographic area to reduce risk
	b) authority for important decisions is delegated to lower segments of the organization
	c) important decisions are made at the upper levels and the lower levels of the organization are responsible for implementing the decisions
	d) None of the above are correct.

Question 22

Why would a company decide to decentralize?

	a) To ensure all decisions are made by one or two key individuals within the company.
	b) To enhance competition, exposing segments to market forces.
	c) To keep decision making within the top levels of the organization.
	d) To discourage competition from other companies in the same field.

Question 23

The Marketing Department is most likely considered to be a(n)

	a) profit center
	b) revenue center
	c) investment center
	d) cost center

Question 24

Types of responsibility centers include all of the following EXCEPT

	a) profit centers
	b) contribution centers
	c) investment centers
	d) cost centers

Question 25

When variable costing is used, all of the following are considered product costs EXCEPT

	a) direct labor
	b) fixed overhead
	c) variable overhead
	d) direct materials