When calculating cost variances under a standard costing system we must
A. compare actual costs with those that were budgeted
B. compare standard costs with actual costs at the standard level of activity
C. compare actual outputs against budgeted outputs
D. compare actual costs with standard costs at the actual level of output
Answer: Option D
A. resourcing
B. value acquiring
C. production
D. value acquaintance
Examining of past performance, exploring alternative and planning future is
A. learning
B. alternating
C. examining
D. deciding
Time that a company takes to create and produce a new product is classified as
A. management factor
B. time factor
C. customer factor
D. chain factor
Purpose of management accounting is to
A. past orientation
B. help banks make decisions
C. help managers make decisions
D. help investors make decision
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