TRUE OR FALSE 10) Standard costs can be used by management to assess the reasonableness of actual costs incurred slandWrnso erthdad costs are used,factory varhcad is asined to produces with a predeterminca 11) When standard are standard overhead rate. 12) A cost variance is the difference between actual cost and standard cost When computing a price variance, the price is held constant 14) Management by exception means that managers focus on the most significant differences between actual costs and standard costs. 15) A flexible budget is based on a single predicted amount of sales or other activity measure. 16) The total sales variance can be divided into the sales price variance and the sales volume variance. 17) One possible explanation for direct labor rate and efficiency variances is the use of workers with different skill levels. 18) An overhead cost variance is the difference between the total overhead actually incurred for the period and the standard overhead applied to products. 19) A volume variance occurs when the company operates at a different capacity level than was expected