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If the labor quantity variance is unfavorable and the cause is inefficient
use of direct labor, the responsibility rests with the
Question 5
A managerial accountant
1. does not participate in the standard setting process.
2. provides knowledge of cost behaviors in the standard setting process.
3. provides input of historical costs to the standard setting process.
Question 6
Using standard costs
Question 7
An unfavorable materials quantity variance would occur if
Question 8
Hofburg’s standard quantities for 1 unit of product include 2 pounds of
materials and 1.5 labor hours. The standard rates are $2 per pound and
$7 per hour. The standard overhead rate is $8 per direct labor hour. The
total standard cost of Hofburg’s product is
Question 9