what are standar cost? what is management by exeption? know who would be responsible for direct materials price variance what happen to variancecosts as volume increase? what is a flexible budget?what does it compare? difference between profit center and cost center ? difference between controllable and uncontrollable cost? who can determine the impact on controllable cost? what is a balanced scorecard? what information is used for it? difference between relevant and irrelevant costs? what are sunk costs? are they relevants?