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"An actual rate paid to labor is greater than the budgeted rate, it means that the", price and efficiency variance Multiple Choice Questions (MCQ) with choices variance is unfavorable, cost is unfavorable, variance is favorable, and cost is favorable for bachelor's degree in business. Learn direct cost variances and management control questions and answers to improve problem solving skills for business management degree online. Price & Efficiency Variance Video

Price and Efficiency Variance Quiz

MCQ: An actual rate paid to labor is greater than the budgeted rate, it means that the

1. cost is unfavorable
2. variance is unfavorable
3. variance is favorable
4. cost is favorable

B

Specification Analysis : Estimation Assumptions Quiz

MCQ: An error term, disturbance term or residual term is calculated as

1. U=A-b
2. u=A-a
3. u=Y-y
4. u=X-x

C

Static Budget Variance Quiz

MCQ: If the sales volume variance is \$8500 and the static budget amount is \$2000, then the flexible budget amount would be

1. \$6,500
2. \$6,600
3. \$6,700
4. \$6,800

A

Transfer Pricing Quiz

MCQ: If the opportunity cost per barrel is \$45 per unit, incremental cost per barrel is \$65, then minimum transfer price will be

1. \$45
2. \$110
3. \$20
4. \$65

B

Inventory Costing Methods Quiz

MCQ: If the fixed manufacturing cost expenses are under variable costing and are not expensed in absorption costing, it is resulting in

1. production exceeds breakeven sales
2. breakeven sales exceeds production
3. price exceeds cost
4. cost exceeds price

A