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7The standard quantity per unit for direct materials should not include an allowance for waste. True False 8. Ideal standards should be used for forecasting
7The standard quantity per unit for direct materials should not include an allowance for waste. True False 8. Ideal standards should be used for forecasting and planning. False 9. The standard cost per unit is computed by multiplying the standard quantity or hours by the standard price or rate. True False 10. Standard costs greatly increase the complexity of the bookkeeping process. True False 11. When computing standard cost variances, the difference between actual and standard price multiplied by actual quantity yields a(n): A. combined price and quantity variance. B. efficiency variance. C. price variance. D. quantity variance. looual wocua(sd.xova 12. The general model for calculating a price variance is: A. actual quantity of inputs x (actual price- standard price). B. standard price x (actual quantity of inputs-standard quantity allowed for output). C. (actual quantity of inputs at actual price) - (standard quantity allowed for output at standard price) D. actual price x (actual quantity of inputs-standard quantity allowed for output)
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