24. Standard costing can be used to apply costs for which of the following? Select one Direct Materials b. Direct Labor Indirect Materials and Indirect Labor c d. Factory Utilities All of the above can be applied using standard costing a. Tab e 25. Reasons for using standard costing include their usefulness in: Select one: Caps L a. Preparing flexible budgets b. Preparing master budgets c Establishing selling prices d. Preparing performance reports e All of the above Shift 1 26. The standard direct material cost is equal to: Select one: a. Standard quantity x Actual price b. Actual quantity x Standard price c Actual quantity x Actual price d. Standard quantity x Standard price e None of the above Ctrt 27. Which of the following accurately represents the "split cost" for analyzing the direct materials flexible budget variance? Select one: a Actual Quantity x Standard Price b. Actual Quantity x Actual Price c Standard Quantity x Actual Price d. Standard Quantity x Standard Price e. None of the above 28. The difference between the split cost and the actual cost for direct materials is called the: Select one: a. Materials Efficiency Variance b. Materials Usage Variance c Materials Budget Variance d. Materials Price Variance e. None of the above 5