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Please answer all of possible. 12. A standard cost system depends on which two types of standards? a. Quantity and price b. Quantity and efficiency
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12. A standard cost system depends on which two types of standards? a. Quantity and price b. Quantity and efficiency c. Rate and price d. Rate and spending 13. A quantity standard is: a. The total dollar amount that a company expects to spend to achieve a given level of output b. A form that shows what the company should spend to make a single unit of product c. The price that should be paid for a specific quantity of nput d. The amount of input that should be used in each unit of product or service 14. A spending variance is made up of: a. Volume variance and quantity variance b. Price variance and volume variance c. Price variance and quantity variance d. Price variance and rate variance is. Oxford Co. has a material standard of 2.1 pounds per unit of output. Each pound has a standard price of $10 per pound. During February, Oxford Co. paid $57,220 for 4,840 pounds, which were used to produce 2.400 units. What is the direct materials price variance? a. $6,820 unfavorable b. $8,820 unfavorable c. $8,820 favorable d. $6,820 favorable Step by Step Solution
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