Question

Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the following descriptions with the term (a-e) it describes:

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Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the following descriptions with the term (a-e) it describes: Clear All normal standard Favorable cost variance theoretical standard Unfavorable cost variance an example is the number of customer complaints Ideal standard actual cost < standard cost at actual volumes Nonfinancial performance measure actual cost > standard cost at actual volumes Currently attainable standard

Answer 1

Normal standard - currently attainable standard

Theoretical standard - ideal standard

Customer complaint - non financial performance

Actual cost less than standard = favourable cost variance

Actual cost more than standard = unfavorable cost variance