1.
Direct Material Price Variance
Direct material price variance in the difference between the budgeted per unit cost of raw material and the actual per unit cost multiplied by the number of units purchased.
Direct Material Efficiency Variance
Direct material efficiency variance is the difference between the budgeted quantities and the actual quantities purchased at a specific price.
Price and efficiency variance of direct material.
2.
Standards
Standards are the planned level of output for a particular period of time decided at the beginning of that period and are used as a comparison tool with the actual performance.
Types of actions taken by works of S plant to reduce the accuracy of standards, reasons for these actions and ethical issues relating to it.
3.
Violation of standards of ethical conduct by W in accordance with the IMA Statement of Ethical Professional Practice.
4.
Actions to be taken by W.
5.
Advantages and disadvantages of using CII information as benchmark.
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Horngren's Cost Accounting: A Managerial Emphasis (16th Edition)
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