A cost variance is the difference between actual cost and standard cost.
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Q11: While companies strive to achieve ideal standards,
Q12: When standard costs are used, factory overhead
Q13: A flexible budget is based on a
Q14: Within the same flexible budget performance report,
Q15: Fixed budget performance reports compare actual results
Q17: A cost variance can be further separated
Q18: Another name for a static budget is
Q19: Standard material costs, standard labor costs, and
Q20: Standard costs can be used by management
Q21: A direct labor cost variance can be
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