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Man10e_SecSol_03

Man10e_SecSol_03 - TB4 TEST 1A(Concluded 18 $10.28 19...

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ACHIEVEMENT TEST SOLUTIONS—TEST 3 (Chapters 7–8) Fill-in-the-Blank Principles and Terminology 1. standard cost systems 2. theoretical (ideal) standards 3. principle of exceptions 4. variance 5. true 6. currently attainable (normal standards) 7. direct labor time variance 8. volume variance 9. controllable variance 10. factory overhead cost variance report 11. work in process 12. finished goods 13. cost of goods sold 14. controllable 15. currently attainable (normal) standards 16. noncontrollable 17. direct labor rate variance
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Unformatted text preview: TB4 TEST 1A (Concluded) 18. $10.28 19. investment center 20. transfer price 21. residual income 22. budget performance report 23. standard 24. $4.00 per payroll check 25. $6,400 26. unfavorable cost variance Problem 1 Problems 1. 11.9% 2. 15.9% TB4 TEST 1A (Concluded) 3. 1.8 4. 15% 5. $160,000 6. 7.5% Problem 2 1. $1,060 2. unfavorable 3. $1,640 4. unfavorable 5. $1890 6. favorable 7. $1,595 8. unfavorable 9. $4,000 10. unfavorable 11. $350 12. unfavorable...
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