After studying Chapter 10, you should be able to:
LO 10-1 | Compute the direct materials price and quantity variances and explain their significance. |
LO 10-2 | Compute the direct labor rate and efficiency variances and explain their significance. |
LO 10-3 | Compute the variable manufacturing overhead rate and efficiency variances and explain their significance. |
LO 10-4 | (Appendix 10A) Compute and interpret the fixed overhead budget and volume variances. |
LO 10-5 | (Appendix 10B) Prepare journal entries to record standard costs and variances. |