A method that management uses to focus attention on the most significant differences between actual costs and standard costs is called:Multiple ChoiceControllable management.Management by variance.Management by exception.Performance management.Management by objectives.

A management technique that permits managers to concentrate their attention on only those activities that have a significant variance, with the objective of understanding why the variance occurred, is known as:Multiple choice question.management planning and controlexcess variance analysisresponsibility reportingmanagement by exception

Standard costs are:Multiple ChoiceEstablished by using management by exception.Rarely achieved.Actual costs incurred to produce a specific product or perform a service.Uniform among companies within an industry.Preset costs for delivering a product or service under normal conditions.

A cost that cannot be avoided or changed because it arises from a past decision, and is irrelevant to current and future decisions, is called a(n):Multiple ChoiceUncontrollable cost.Out-of-pocket cost.Sunk cost.Opportunity cost.Incremental cost.

In responsibility accounting, unit managers are evaluated on:Multiple choice question.costs they cannot controlcosts in decentralized unitscosts they can controluncontrollable costs

Multiple Choice QuestionWhich costing method can be helpful to management in setting prices because it reflects full costs that sales must exceed for the company to be profitable?Multiple choice question.Absorption costingVariable costing