Acct chapter 11 100% SOLUTION

Acct chapter 11 100% SOLUTION A(n) ________ is a carefully predetermined cost that is usually expressed on a per unit basis. A) allocated cost B) applied cost C) standard cost D) flexible cost - ANSWER c The type of standard that provides allowances for normal amounts of waste and inefficiency in the production process is referred to as a(n) A) ideal standard. B) perfection standard. C) realistic standard. D) practical standard. - ANSWER d As managers use less and different types of direct materials, which of the following standards do managers focus on to enhance sustainability in the workplace? A) Quantity/Efficiency standard B) Price standard C) Flexible standard D) Both A and B - ANSWER d If the purchasing manager purchased a greater quantity of raw materials than budgeted, but paid the Standard Price (SP), which variance may be affected? A) Materials price variance B) Materials quantity variance C) Both of the variances may be affected D) Neither of the variances may be affected - ANSWER d