Instructions Match each of the statements below with its proper term. Some terms may not be used A: budget performance Fepert K. favorable cost variance B. budgeted variable factory L. ideal standards overhead C. controllable variance D. cost variance -E GuFFently attainable standards o standards- Fra direct labor rate variaAce P. standard cost standard eest systems H. direct materials price variance R. total manufacturing cost variance direct materials quantity S. unfavorable cost variance T ekumewarianee- J. factory overhead cost variance report 1. Standards that represent levels of operation that can be obtained with reasonable effort. 2. The cost associated with the difference between the standard quan- tity and the actual quantity of direct materials used in producing a commodity. 3. A report comparing actual results with budget figures. 4. Standards that represent levels of performance that can be achieved only under perfect operating conditions. 5. An estimate of the cost of direct materials, direct labor, and factory overhead required by a product. T 6. The difference between the budgeted fixed overhead at 100% of normal capacity and the standard fixed overhead for the actual pro- duction achieved during the period 7. The cost associated with the difference between the standard hours and the actual hours of direct labor spent producing a commodity. 8. The difference between the actual amount of variable factory overhead cost incurred and the amount of variable factory overhead budgeted for actual production 9. The cost associated with the difference between the standard price and the actual price of direct materials used in producing a commodity. 10. The difference between the actual cost and the standard cost. 11. The cost associated with the difference between the standard rate ind the actual rate paid for direct labor used in producing a commodity. 12. Accounting systems that use standards for each manufacturing cost entering into the finished product