Match Each of the Following Phrases with the Term (A-E)

question 148

Multiple Choice

Match each of the following phrases with the term (a-e) it describes.
-Summarizes actual costs, standard costs, and the differences for units produced

• A)Ideal standard
• B)Normal standard
• C)Budget performance report
• D)Unfavorable cost variance
• E)Favorable cost variance

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Definitions:

Superficial

Relating to or affecting only the surface or appearance of something, rather than its substance or underlying realities.

Distributive Negotiation

Focuses on positions staked out or declared by the parties involved, each of whom is trying to claim certain portions of the available pie.

Win-lose Outcome

A competitive resolution to a conflict or negotiation where one party's gain is directly proportional to the other's loss.

Hard Approach

A management strategy focusing on measurable outcomes, financial targets, and control mechanisms.