identifying variances determines which manager must find a solution to major discrepancies.

B. identifying variances determines which manager must find a solution to major discrepancies. A. the price and quantity variances need to be identified separately to correct the actual major differences. ANS: B DIF: Easy OBJ: 23-02 NAT: AACSB Analytic | IMA-Performance Measurement 11. Total manufacturing cost variance includes: a. Direct materials price variance, direct labor cost variance, and fixed factory overhead volume variance b. Direct materials cost variance, direct labor rate variance, and factory overhead cost variance c. Direct materials cost variance, direct labor cost variance, variable factory overhead controllable variance d. Direct materials cost variance, direct labor cost variance, factory overhead cost variance ANS: D DIF: Moderate OBJ: 23-02 NAT: AACSB Analytic | IMA-Performance Measurement 12. Which of the following is not a reason standard costs are separated in two components? A. the price and quantity variances need to be identified separately to correct the