The _____ people are the earliest known inhabitants of Africa's Mediterranean coast - 832289
The purchasing department is often responsible for the events that create a direct materials price variance. TRUE ___2. A flexible budget expresses variable costs on a per unit basis and fixed costs on a total basis. TRUE ___3. A flexible budget expresses all costs on a per unit basis. FALSE ___4.
If actual cost exceeds the standard costs, it is an unfavorable variance. On the other hand, if actual cost is less than the standard cost, it is a favorable variance. Variance analysis is usually conducted for. 1  Direct material costs (price and quantity variances);2  Direct labor costs (wage rate and efficiency variances); and.tandard costing is the establishment of cost standards for activities and their periodic analysis to determine the reasons for any variances. Standard costing is a tool that helps management account in controlling costs.