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If a sales-volume variance was caused by poor-quality products, then the ________ would be in the best position to explain the variance.Answersales managermanagement accountantpurchasing managerproduction managerThe term budget indicates:Answerplanned amounts for a future accounting periodthat standards have been used to develop the budgetthat actual input data from past periods have been used to develop the budgetthat engineering studies have been used to develop the budgetThe process by which a company’s products or services are measured relative to the best possible levels of performance is known as:a standard costing systemvariance analysisbenchmarkingefficiencyAnswer the following questions using the information below:Robb Industries, Inc. (RII), developed standard costs for direct material and direct labour. In 2004, RII estimated the following standard costs for one of their major products, the 10-gallon plastic container.Budgeted price$30 per kilogram$15 per hourDuring June, RII produced and sold 5,000 containers using 490 kilograms of direct materials at an average cost per kilogram of $32 and 250 direct manufacturing labour-hours at an average wage of $15.25 per hour.June’s direct manufacturing labour efficiency variance is:Answer$62.50 favourable$3,811.75 unfavourable$62.50 unfavourableNone of these answers are correct.
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