Question 16 1 pts In setting overhead standards, which of the following points are valid? Variable costs per unit remain constant, but fixed costs per unit decline with increases in sales volume. O Variable and fixed costs per unit remain constant. Variable and fixed costs per unit both increase as production increases All of the above are correct. Question 17 1 pts Standard costing can be used for both job order and process costing systems, True False Question 18 1 pts Standard costs should be revised when they vary from actual results. True O False 1 pts Question 19 Which of the following would not be a variance that would be highlighted through standard costing? Direct labor increases Income tax rate increases Excess overtime hours Variable overhead cost reductions Materials price increases D Question 20 1 pts The price variance for materials is the difference between the actual quantity of materials at the actual price and the actual quantity of materials at the standard price. O True False D Question 21 1 pts Which department is often responsible for the direct materials price variance The accounting department, The production department The purchasing department, The finance department The budgeting department D Question 22 1 pts Only unfavorable variances are analyzed to determine the possible cause of the deviation from the budgeted amount. True O False Question 23 1 pts The standard cost for direct materials is determined by multiplying the actual price per unit of material by the standard quantity budgeted for the production level planned. True False