Which of the following statements is true of process costing?

A. The operating income and the tax payments of a company are not affected by the method of process-costing being followed by the company.

B. In the period of rising prices, weighted-average process-costing method will result in higher operating income as compared to FIFO process-costing method.

C. In the period of rising prices, weighted-average process-costing method will result in lower cost of goods sold as compared to FIFO process-costing method.

D. In a period of rising prices, weighted-average process-costing method will result in higher finished inventory levels as compared to FIFO process-costing method.

An efficiency variance reflects the difference between:

Group of answer choices

A. a standard input quantity in a company and its main competitors

B. an actual input quantity and a standard input quantity

C. actual input quantities used last period and current period

D. an actual price paid for actual input quantity and a standard price for actual input quantity

Standard cost per output unit for each direct cost input is calculated by multiplying:

Group of answer choices

A. standard quantity input allowed for one output unit by actual price per input unit

B. standard quantity input allowed for one output unit by standard price per input unit

C. actual quantity input allowed for one output unit by actual price per input unit

D. actual quantity input allowed for one output unit by standard price per input unit