Test Bank For Standard Costing

1. The type of standard that is intended to represent challenging yet attainable results is: A. theoretical standard B. flexible budget standard C. controllable cost standard D. normal standard E. expected actual standard A 2. Standard costs are used for all of the following except: A. income determination B. controlling costs C. measuring efficiencies D. forming a basis for price setting E. establishing budgets C 3. Of the following variances, the one that is most useful in assessi...