Difference between budgeted amounts and actual results is classified as
A. standard deviation
B. variances
C. mean average
D. weighted average
Answer: Option B
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Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
Other Things Held Constant, Which of the Following Will Not Affect the Current Ratio,
Assuming an Initial Current Ratio Greater Than 1.0?