Select the Term That Best Fits the Definition or Description;enter

question 52

Essay

Select the term that best fits the definition or description;enter the number of the term in the column for Your Answer. $\begin{array}{|l|l|l|} \hline \text { Your Answer} &\text { Definition or Description }&\text {Term} \\\hline &\text {A. Differences between budgets based on standard amownts a the actual level of activity and actual resuls } &\text { 1. Budget slack }\\\hline &\text {B. The difference between ifflated and realistic standards } &\text { 2. Cost per nuit of imput }\\\hline &\text { C. A variance occuring in a standard cost accotuting system when the actual amount or quantiy of direct labor used differs from the standard amount required } &\text { 3. Favorable variance }\\\hline &\text {D. The per unt price or coet that "should be" based on a certain set of anticipated circumstances } &\text { 4. Fexible budget vaniances }\\\hline &\text {E. Standard representing the highest level of efficiency attainable based on all inpui factors interacting perfectly muder ideal or optimun conditions } &\text {5. Ideal standard }\\\hline &\text { F. A variance that occus when actual prices paid for raw materials differs from the standard prices } &\text {6. Labor usage variance }\\\hline &\text { G. The difference between sales based on a static budget (standard sales price times standard level of activity) and sall based on a flexible budget (standard sales price times actual level of activity) } &\text { 7. Labor price variance }\\\hline &\text { H. A variance that occuss when the actual pay rate differs from the sandard pay rate for direct labor } &\text {8. Materials price variance }\\\hline &\text {I. A variance that occurs when the actual costs are less than standard costs or when actual sales are greater than standard sales} &\text {9. Materials usage variance }\\\hline &\text {J. A variance that occurs when the actual amounts of raw materials used to produce a good differ from the standard amounts required to prochice that good } &\text {10. Sales volume variance }\\\hline &\text {K . Budgets based solely on the planned level of activity and that remain constant even when vohme of activity changes} &\text { 11. Standards }\\\hline &\text {L. The cost of one wit of materinl labor, or overhead } &\text { 12. Static budgets }\\\hline\end{array}$
CHANGE NEEDs TO BE MADE TO TABLE
Given that exact wording is not in chapter,change term 2 to:
Cost per unit

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