1- What does the difference between (SQ x SP) and (AQ x SP) reflect concerning variable overhead?

a) Direct labor efficiency variance

b) Variable overhead spending variance

c) Flexible budget variance

d) Variable overhead efficiency variance

2-How is the standard cost of a product calculated?

a) Multiply the actual price of each input by the standard quantity of the input and sum.

b) Multiply the actual price of each input by the actual quantity of the input and sum.

c) Multiply the standard price of each input by the actual quantity of the input and sum.

d) Multiply the standard price of each input by the standard quantity of the input and sum.