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MBA Accounting Final Exam Questions & Answers 2024/2025 $7.99   Add to cart

Exam (elaborations)

MBA Accounting Final Exam Questions & Answers 2024/2025

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  • MBA Accounting
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  • MBA Accounting

MBA Accounting Final Exam Questions & Answers 2024/2025

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  • November 13, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MBA Accounting
  • MBA Accounting
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Bensuda
MBA Accounting Final Exam Questions
& Answers 2024/2025

Standard Cost is - ANSWERSis a budget for the production of one unit of product or service



perfect or ideal standard is - ANSWERSone that can be attained only under nearly perfect operating
conditions



practical standards are - ANSWERSexpected to be attained under normal conditions



cost variance is - ANSWERSthe difference between the actual cost with the budgeted or standard cost



Direct materials price variance is - ANSWERSactual quantity(actual price - standard price)



Direct materials quantity variance is - ANSWERSstandard price (actual quantity - standard quantity)



Direct labor rate variance is - ANSWERSactual hours (actual rate - standard rate)



Direct labor efficiency variance is - ANSWERSstandard rate (actual hours - standard hours)



Flexible budgets are - ANSWERSnot based on only one level of activity and is a detailed plan for
controlling overhead costs that is valid in the firms relevant range of activity



static budget is - ANSWERSbased on a particular planned level of activity



what are the three characteristics of information - ANSWERSmust be relevant accurate and timely



relevant costs affect - ANSWERSthe future and differ between alternatives

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