______ Deal with Standards of Right Conduct and Behavior-What We

question 7

Short Answer

______ deal with standards of right conduct and behavior-what we ought to do, not what we need, can, or prefer to do.

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Definitions:

Controllable Costs

Expenses that a manager or business can influence or regulate, such as marketing costs or raw material purchases.

Fixed Costs

Business expenses that remain constant regardless of production volume, such as rent or salaries.

Total Overhead Variance

The difference between the actual overhead costs incurred and the standard or budgeted overhead costs anticipated for a particular period.

Direct Labor Hours

The total hours worked by employees directly involved in the manufacturing process or providing a service.