True/false

A variance it the difference between actual and standard costs. True False Standard costs are typically use for year-end financial statements. True False Standards are not designed to evaluate price and quantity variances separately True False The standard cost can only be achieved W ideal conditions and should not be compared to actual costs. True False At the end of the fiscal year, the immaterial variances from standard are usually transferred to the cost of goods sold account. True False A report that compares budgeted results with actual results is known as a budget performance report. True False Nonfinancial measures should never be used to measure performance. True False A variance it the difference between actual and standard costs. True False Standard costs are typically use for year-end financial statements. True False Standards are not designed to evaluate price and quantity variances separately True False The standard cost can only be achieved W ideal conditions and should not be compared to actual costs. True False At the end of the fiscal year, the immaterial variances from standard are usually transferred to the cost of goods sold account. True False A report that compares budgeted results with actual results is known as a budget performance report. True False Nonfinancial measures should never be used to measure performance. True False