12.

The total overhead variance is the difference between the

a. actual overhead costs and overhead costs applied based on standard hours

allowed

b. actual overhead costs and overhead costs applied based on actual hours

c. overhead costs applied based on actual hours and overhead costs applied based

on standard hours allowed

d. the actual overhead costs and the standard direct labor costs

13.

The perspectives included in the balanced scorecard approach include the following

except

the

a. internal process perspective

b. capacity utilization perspective

c. learning and growth perspective

d. customer perspective

14.

Denmark Corporations variance report for the purchasing department reports 1,000 units of

material A purchased and 2,400 units of material B purchased. It also reports standard prices of $2

for Material A and $3 for Material B. Actual prices reported are $2.10 for Material A and $2.80 for

Material B. Denmark should report a total price variance of

a. $380 F

b. $340 F

c. $340 U

d. $380 U

15.

In using variance reports, management looks for

a. total assets invested

b. significant variances

c. competitors costs in comparison to the company's costs

d. more efficient ways of valuing inventories