Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer. ASAP. 1. One of the primary reasons for using cost variances is: a. they diagnose the cause of a problem and what should

Please answer. ASAP.

1. One of the primary reasons for using cost variances is:

a. they diagnose the cause of a problem and what should be done to correct it

b. for superiors to communicate expectations to lower-level employees

c. to administer appropriate disciplinary action

d. for financial control of operating activities and understanding why variances arise

2. Which of the following factors would cause an unfavorable material quantity variance?

a. using poorly maintained machinery

b. using higher quality materials

c. using more highly skilled workers

d. receiving discounts for purchasing larger than normal quantities

3. An unfavorable price variance for direct materials might indicate:

a. that the purchasing manager purchased in smaller quantities due to a change to just-in-time inventory methods

b. congestion due to scheduling problems

c. that the purchasing manager skillfully negotiated a better purchase price

d. that the market had an unexpected oversupply of those materials

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Analytical Corporate Valuation Fundamental Analysis, Asset Pricing, And Company Valuation

Authors: Pasquale De Luca

1st Edition

331993550X, 9783319935508

More Books

Students also viewed these Accounting questions

Question

Define cardiac cycle, and follow the events of one cycle.

Answered: 1 week ago

Question

Where does the Sun get its energy?

Answered: 1 week ago

Question

What kinds of communication help sustain long-distance romances?

Answered: 1 week ago