Multiple Select QuestionSelect all that applyWhich production variances are due to the difference between the standard and actual quantities?Multiple select question.Raw materials usage varianceVariable overhead spending varianceVariable overhead efficiency varianceDirect labor rate varianceRaw materials price varianceDirect labor efficiency variance

Select all that applyWhich terms are used to describe the cost per unit of input variance for different product cost components (raw materials, direct labor, and manufacturing overhead)?Multiple select question.Rate varianceSpending variancePrice varianceEfficiency variance

A fixed manufacturing overhead variance caused by the difference between the actual fixed overhead expenditures and the fixed overhead that was budgeted for the period is called:Multiple choice question.a volume variancea spending variancea budget variancean efficiency variance

Multiple Select QuestionSelect all that applyThe main factors that can cause a variance include the following. Select all that apply.Multiple select question.quantity variancetime varianceprice variancesales variance

Which of the following statements is true?Multiple choice question.Quantity variances are computed for direct materials, direct labor and fixed overhead.The variance that computes the price difference for materials is called a material rate variance.Price variances can only be computed for direct materials and direct labor.A labor efficiency variance is a quantity variance.

Multiple Choice QuestionThe overhead variance is the difference between:Multiple choice question.budgeted overhead and standard overhead appliedactual total overhead and the standard overhead appliedactual total overhead and the standard overhead budgeted