Inflation Can Be Measured by the

question 255

Multiple Choice

Inflation can be measured by the

• A) change in the consumer price index.Inflation in the U.S.has averaged about 6% over the last 70 years.
• B) change in the consumer price index.Inflation in the U.S.has averaged about 4% over the last 70 years.
• C) percentage change in the consumer price index.Inflation in the U.S.has averaged about 6% over the last 70 years.
• D) percentage change in the consumer price index.Inflation in the U.S.has averaged about 4% over the last 70 years.

Analyze variance reports to identify areas of performance deviation from the budgeted or standard costs.

Understand how budgeting techniques (e.g., flexible, fixed) aid in operational and financial decision-making.

Apply standard costing in variance analysis to assess and control the efficiency and profitability of operations.

Differentiate between favorable and unfavorable variances and understand their financial implications.