1 - What are the two standard components of manufacturing costs?

2 - Define and explain the differences (give an example of each) between: (a) Favorable cost variance; (b) Unfavorable cost variance;

3 - List the six (6) Manufacturing Cost Variances; give the formula to find each

4 - Factory Overhead Variances use different volumes, explain the differences and where is it used. (a) Budgeted Volume (b) 100% Normal Capacity Volume (c) Actual Volume

5 - Explain what nonfinancial performance measures are, the differences between inputs and outputs, and why management would use them.