Stack the variance terms

Exercise and reference answers

Questions

1. Answer

   Unfavorable

   Question

   Spending more than the standard.

   Choices

   1. Unfavorable
   2. Favorable

2. Answer

   No variance

   Question

   Actual matches the standard exactly.

   Choices

   1. No variance
   2. Unfavorable

3. Answer

   Quantity used

   Question

   A materials variance component.

   Choices

   1. Quantity used
   2. Rate paid

4. Answer

   Rate paid

   Question

   A labor variance component.

   Choices

   1. Rate paid
   2. Quantity used

5. Answer

   Expectations

   Question

   What a standard communicates.

   Choices

   1. Expectations
   2. Past results

6. Answer

   The standard

   Question

   The benchmark every variance uses.

   Choices

   1. The standard
   2. Last year

7. Answer

   Linked variances

   Question

   Cheap poor material wasted by workers.

   Choices

   1. Linked variances
   2. One variance

Instructions

Tap the right answer to add a block. Too many mistakes and the tower falls.

Explanation