Concerning standard costing? and variance? calculations

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Reference no: EM131212329

Which of the following statement is incorrect concerning standard costing? and/or variance? calculations?

A. A price? (rate) variance calculates the difference between what a company paid and what it expected to pay for its production input.

B. Standards are used at the beginning of the period during to budget and at the end of the period to evaluate performance.

C. Variances falling outside of an acceptable range of outcomes do not require investigation.

D. A favorable quantity? (efficiency) variance indicates that a company used less input than allowed for the actual level of output.

E. Price? (rate) standards represent the expected cost per unit of input.

Reference no: EM131212329

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