05 Jun help me please!!! Multiple choice (5 pts each) (highlight or clearly mark your answer)
Question
help me please!!!
Multiple choice (5 pts each) (highlight or clearly mark your answer)
1)Which of the following is one of the reasons why companies use standard costs?
a.to enhance customer loyalty
b.to set performance targets
c.to share best practices with other companies
d.to ensure the accuracy of the financial records
2)Which of the following does the efficiency variance measure?
a.the difference between the quantity used by the company and the quantity used by its competitors
b.the change in quantities used over time
c.the difference between actual and standard quantity used
d.how quickly materials are processed into finished goods
3)The production manager of a company was experiencing a high defect rate on the assembly line, which was slowing production and causing wastage of valuable materials. He decided to recruit some highly skilled production workers from another company to bring down the defect rate, but was worried that the higher wages of these workers might negatively affect operating income. This situation would have produced a(n):
a.unfavorable direct materials cost variance.
b.unfavorable direct labor cost variance.
c.unfavorable direct labor efficiency variance.
d.unfavorable direct materials efficiency variance.
4)Which of the following is used to charge the cost of direct labor to the production?
a.Debit for standard quantity for actual production times standard cost per hour
b.Credit for standard quantity usage for actual production times actual cost per hour
c.Debit for actual quantity times standard cost per hour
d.Credit for standard quantity for actual production times standard cost per hour
5)Brad, one of the managers of a multi-national company, is responsible to generate revenues and control costs in order to increase the operating income of his division. However, he is not concerned with investment-related decisions. Brad is most likely to be the manager of a(n):
a.cost center.
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