The labor rate variance measures the difference between the actual hourly rate and the standard hourly rate, multiplied by the actual hours of input.

The following materials standards have been established for a particular product:Standard quantity per unit of output                   5.3    metersStandard price                                                    $17.20   per meterThe following data pertain to operations concerning the product for the last month:Actual materials purchased8,100 metersActual cost of materials purchased$ 141,345Actual materials used in production7,600 metersActual output1,400 unitsWhat is the materials price variance for the month?

It is important to clearly distinquish between deviations from price standards and from quantity standards since they are normally the responsibility of different managers.

When using a flexible budget, a increase in activity within the relevant range:

Generally, a product line should be dropped when the fixed costs that can be avoided by dropping the product line are less than the contribution margin that will be lost.

A positive net present value indicates that the capital budget project being considered has a return that exceeds the discount rate which is described as a company’s minimum required rate of return.

Airline One uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $40,890 per month plus $2,779 per flight plus $17 per passenger. The company expected its activity in December to be 95 flights and 307 passengers, but the actual activity was 98 flights and 310 passengers. The actual cost for plane operating costs in August was $262,190.The plane operating costs in the planning budget for August would be closest to:

A performance report includes the activity, revenue and spending variances to compare actual amounts and planned amounts to the flexible budget.

Theory Test Section Two: Music Theory This is the Theory section of the test – section 2. There are 60 Questions.  You should plan to spend about 35 Minutes on this section. You may not use any aids or switch screens during this section. Answer with the ONE answer which is most correct.

​“Daddy, can you help me get dressed?” Boris asked his father. “You can put on your pants and socks by yourself, but I’ll help with your shirt and shoes,” his father said. From Vygotsky’s theory, Boris’s father is using ____ when he does not give his son help on skills that his son has already mastered.