Match the Following Descriptions with the Term A-E It Describes

question 70

Multiple Choice

Match the following descriptions with the term a-e it describes:
-actual cost > standard cost at actual volumes

• A)Ideal standard
• B)Nonfinancial performance measure
• C)Currently attainable standard
• D)Unfavorable cost variance
• E)Favorable cost variance

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Definitions:

Mark-up

The extra sum included in the goods' selling price to cover both overhead expenses and profit.

Selling Price

The amount of money for which a product or service is sold to a customer.

Cost

The amount of money required to purchase something or the expenditure incurred on the production of a good or service.

New Balance

The amount remaining in an account after all debits and credits have been accounted for during a specified period.