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im_pdf_ch11 - CHAPTER 11 Standard Costs and Balanced...

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11-1 CHAPTER 11 Standard Costs and Balanced Scorecard ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Distinguish between a standard and a budget. 1, 2 1 1 2. Identify the advantages of standard costs. 3 1 3. Describe how companies set standards. 4, 5, 6, 7, 8, 9 2, 3 1, 2, 3, 4, 16, 18 4. State the formulas for determining direct materials and direct labor variances. 10, 11 4, 5 4, 5, 6, 7, 8, 9, 12, 13, 18 1A, 2A, 3A, 4A, 5A, 6A 1B, 2B, 3B, 4B, 5B, 6B 5. State the formula for determining the total manufacturing overhead variance. 12 6 10, 11, 18 1A, 2A, 3A, 4A, 5A, 6A 1B, 2B, 3B, 4B, 5B, 6B 6. Discuss the reporting of variances. 13, 14 9, 13, 14 3A 3B 7. Prepare an income statement for management under a standard costing system. 18 15 2A, 5A, 6A 2B, 5B, 6B 8. Describe the balanced scorecard approach to performance evaluation. 15, 16, 17 7 16 *9. Identify the features of a standard cost accounting system. 19 8, 9 17, 18, 19 6A 6B *10. Compute overhead controllable and volume variances. 20, 21, 22, 23 10, 11 20, 21, 22 7A, 8A, 9A, 10A 7B, 8B, 9B, 10B

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BLOOM’S TAXONOMY TABLE 11-3 Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation 1. Distinguish between a standard and a budget. Q11-1 Q11-2 BE11-1 E11-1 2.

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im_pdf_ch11 - CHAPTER 11 Standard Costs and Balanced...

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