Which of the following statement is correct concerning standard costing and/or variance calculations?

A.

A price (rate) variance calculates the difference between what a company paid and what it expected to pay for its production output.

B.

Quantity (efficiency) standards represent the expected cost per unit of input.

C.

Standards are used at the beginning of the period to budget and at the end of the period to evaluate performance.

D.

A favorable quantity (efficiency) variance indicates that a company used more input than expected for the actual level of output.

E.

Variances falling outside of an acceptable range of outcomes do not require investigation.