The difference between actual and standard cost caused by the difference between the actual price and the standard price is called the:

A)Standard variance.

B)Quantity variance.

C)Volume variance.

D)Controllable variance.

E)Price variance.

___13.A planning budget based on a single predicted amount of sales or production volume is called a:

A)Sales budget.

B)Standard budget.

C)Flexible budget.

D)Fixed budget.

E)Variable budget.

___14.The difference between the total budgeted overhead cost and the overhead applied to production using the predetermined overhead rate is the:

A)Production variance.

B)Volume variance.

C)Overhead cost variance.

D)Quantity variance.

E)Controllable variance.

___15.A profit center:

A)Incurs costs, but does not directly generate revenues.

B)Incurs costs and directly generates revenues.

C)Has a manager who is evaluated solely on efficiency in controlling costs.

D)Incurs only indirect costs and directly generates revenues.

E)Incurs only indirect costs and generates revenues.

___16.Expenses that are easily traced and assigned to a specific department because they are incurred for the sole benefit of that department are called:

A)Direct expenses.

B)Indirect expenses.

C)Controllable expenses.

D)Uncontrollable expenses.

E)Fixed expenses.

___17.The most useful evaluation of a manager's cost performance is based on:

A)Controllable costs.

B)Contribution percentages.

C)Departmental contributions to overhead.

D)Fixed expenses.

E)Direct costs.