Match the following terms relating to a standard costing system to the appropriate statement by placing the letter to the left of each statement.
| a. | Direct labor efficiency variance | f. | Fixed overhead volume variance |
| b. | Direct labor rate variance | g. | Normal costing system |
| c. | Direct material price variance | h. | Standard costing system |
| d. | Direct material quantity variance | i. | Variable overhead efficiency variance |
| e. | Fixed overhead spending variance | j. | Variable overhead spending variance |
| ______ | 1. | The difference between actual variable overhead incurred and variable |
| ______ | 2. | System in which direct materials and direct labor are recorded at actual cost |
| | and overhead is applied to products using a predetermined overhead rate |
| ______ | 3. | Occurs when actual activity differs from the expected level of activity |
| ______ | 4. | The difference between the actual and standard rate of pay times the number |
| | of hours actually worked |
| ______ | 5 | Variance recorded when materials are purchased |
| ______ | 6. | The difference between budgeted and actual fixed overhead costs |
| ______ | 7. | System in which all product costs are recorded at standard cost while the |
| ______ | 8. | The difference between variable overhead applied and the standard variable |
overhead
| ______ | 9. | Variance recorded when materials are transferred to the production floor |
| ______ | 10. | The difference between actual hours worked and standard hours allowed |
| | times the standard rate of pay |
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