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1.
(actual hours worked-standard hours allowed) x standard rate per hour produce you product.
| | | materials usage variance |
| | | materials price variance |
| | | labor rate variance |
| | | Labor efficiency variance |
2.
(actual price-standard price) x actual quantity purchased produce your product.
| | | materials price variance |
| | | Labor efficiency variance |
| | | materials usage variance |
| | | labor rate variance |
3.
Which is prepared first in a master budget?
| | | Sales budget |
| | | cash budget |
| | | Income statement |
| | | Production or purchases budget |
4.
What details the planned investing activities of the company?
| | | sales budget |
| | | operating budget |
| | | capital budget |
| | | cash budget |
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