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n determining the standard factory overhead rate, which level of capacity is used? Select one: Maximum capacity Expected actual capacity  Practical capacity Normal capacity One way of analyzing the fixed factory overhead variance is breaking it down into Select one: Efficiency and capacity variances  Spending and volume variance Efficiency and volume variance Spending and budget variance   Setting standards Select one: Should be done to make them as tight as possible Is largely a matter of calculating rates and quantities  Has important behavioral implications Is done only for manufacturing activities A major drawback to setting standards based on historical results is that such standards Select one: Are usually not well received by workers  Are harder to compute than are engineered standards Are usually too hard to meet because of inflation Can perpetuate inefficiencies Prior department costs when using process costing method are most similar to: Select one: Conversion costs that are added continuously throughout the process Started cost Materials added at the beginning inventory  Costs in the beginning inventory

n determining the standard factory overhead rate, which level of capacity is used? Select one: Maximum capacity Expected actual capacity  Practical capacity Normal capacity One way of analyzing the fixed factory overhead variance is breaking it down into Select one: Efficiency and capacity variances  Spending and volume variance Efficiency and volume variance Spending and budget variance   Setting standards Select one: Should be done to make them as tight as possible Is largely a matter of calculating rates and quantities  Has important behavioral implications Is done only for manufacturing activities A major drawback to setting standards based on historical results is that such standards Select one: Are usually not well received by workers  Are harder to compute than are engineered standards Are usually too hard to meet because of inflation Can perpetuate inefficiencies Prior department costs when using process costing method are most similar to: Select one: Conversion costs that are added continuously throughout the process Started cost Materials added at the beginning inventory  Costs in the beginning inventory

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter10: Standard Costing And Variance Analysis
Section: Chapter Questions
Problem 39BEB: Variable Overhead Spending and Efficiency Variances, Columnar and Formula Approaches Aretha Company...
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KINDLY ANSWER ALL 5 QUESTIONS

In determining the standard factory overhead rate, which level of capacity is used?

Select one:

  1. Maximum capacity
  2. Expected actual capacity 
  3. Practical capacity
  4. Normal capacity

One way of analyzing the fixed factory overhead variance is breaking it down into

Select one:

  1. Efficiency and capacity variances 
  2. Spending and volume variance
  3. Efficiency and volume variance
  4. Spending and budget variance

 

Setting standards

Select one:

  1. Should be done to make them as tight as possible
  2. Is largely a matter of calculating rates and quantities 
  3. Has important behavioral implications
  4. Is done only for manufacturing activities

A major drawback to setting standards based on historical results is that such standards

Select one:

  1. Are usually not well received by workers 
  2. Are harder to compute than are engineered standards
  3. Are usually too hard to meet because of inflation
  4. Can perpetuate inefficiencies

Prior department costs when using process costing method are most similar to:

Select one:

  1. Conversion costs that are added continuously throughout the process
  2. Started cost
  3. Materials added at the beginning inventory 
  4. Costs in the beginning inventory
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