A favorable variance would be credited to a cost variance account.
Correct Answer:
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Q9: The materials price variance is calculated by
Q10: A labor efficiency variance relates to the
Q11: A standard cost is the per unit
Q12: A standard cost is predetermined,that is,determined before
Q13: Standard costs are typically reviewed once per
Q15: Standard cost systems are generally compatible with
Q16: In setting standards,management's level of performance expectation
Q17: In a standard cost system,actual costs are
Q18: Standard costs are established only for direct
Q19: The use of excessive quantities of material
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