5.If actual costs are greater than standard costs, there is a(n) Question 5 options: normal variance. favorable variance. unfavorable variance. error in the accounting system.

11.The standard quantity allowed for the units produced was 4,500 pounds, the standard price was $2.50 per pound, and the materials usage variance was $475 favorable. Each unit uses 1 pound of materials. How many units were actually produced? Question 11 options: 11,725 4,310 4,500 4,690

18.Management by exception Question 18 options: means that only unfavorable differences will be investigated. causes managers to be buried under voluminous paperwork. means that all differences will be investigated. means that material differences will be investigated.

23.Management by exception Question 23 options: is most effective at top levels of management. can be implemented at each level of responsibility within an organization. is the opposite of goal congruence. can only be applied when comparing actual results with the master budget.

24.Which responsibility centers generate both revenues and costs? Question 24 options: Investment and profit centers Cost and investment centers Only profit centers Profit and cost centers