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 it describes: Clear All Ideal Standard an example is the number of customer complaints Nonfinancial performance actual cost standard cost at actual volumes actual cost standard costat Currently attainable standard normal standard Favorable cost hanc theoretical standard

Answer 1

Document1 - Microsoft Word - 2 X W 2015 File Home Insert Page Layout References Mailings Review View Ideal Standard = Standard that is defined in the books, manuals which can be attained in highest efficient manner, So it is also termed as theoretical standards Nonfinancial performance measure= Number of complaints from customer as it doesn't involve any financial data, but it is a performance measure to improve quality Currently Attainable standards = Normal Standards, generally attainable with the normal levels. Unfavorable cost variance = when actual cost is higher than standard cost it is unfavorable cost variance i.e. Actual Cost > Standard cost of actual volume Favorable cost variance = when actual cost is lower than standard cost it is favorable cost variance i.e. Actual Cost < Standard cost of actual volume. # O Page 1 of 1 2 E B 2 Words: 116 English (U.S.) Type here to search 150% - ENG 0 9:19 AM o Ei ê a x H C a 9 0 ^ <) ll IN 01-May-20

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