In activity-based costing, final cost allocations assign costs to Cdepartments. processes. Cproducts activities. Question 6 Relevant costs are all fixed and variable costs. all costs that would be incurred within the relevant range of production. past costs that are expected to be different in the future. anticipated future costs that will differ among various alternatives. Which of the following are considered controllable variances? VOH Spending FOH Volume VOHEfficiency yes yes yes no no yes no yes no yes no yes The FIFO method of process costing will produce the same cost of goods transferred out dollar amount as the weighted average method when the goods produced are homogeneous. there is no beginning Work in Process Inventory. there is no ending Work in Process Inventory. beginning and ending Work in Process Inventories are each 50 percent complete. If a firm uses variable costing, fixed manufacturing overhead will be included only on the balance sheet only on the income statement. on both the balance sheet and income statement. O on neither the balance sheet nor income statement In a standard cost system, when actual units produced is greater than budgeted units, there will be a(n) C unfavorable capacity variance. favorable material and labor usage variance. favorable volume variance. unfavorable manufacturing overhead variance. |OOOTO