Knowledge quiz

It’s time to put what you’ve learned to the test, get 6 questions right to pass this unit.

Q1.
Which of the following statements related to target costs are correct?
There are two correct answers.
Q2.
Which of the following statements related to input variances in cost centers are correct?
There are two correct answers.
Q3.
Which of the following statements to calculate the input price variance are correct?
There are two correct answers.
Q4.
Standard costing only works with total plan costs in relation to plan activity quantities. Therefore, plan cost are equal to target cost and variance categories cannot be calculated. Determine whether this statement is true or false.
Choose the correct answer.
Q5.
Flexible standard costing distinguishes between activity-related fixed and variable plan costs. This allows you to differentiate between a fixed and a variable activity price.  Determine whether this statement is true or false.
Choose the correct answer.
Q6.
The target activity type price of an activity type results from the ratio of the activity-related plan costs of the cost center and the planned activity type quantity. Determine whether this statement is true or false.
Choose the correct answer.
Q7.
The output price difference results from the difference between the target activity type price and the plan activity type price and the multiplication of these difference by the actual activity type quantity allocated. Determine whether this statement is true or false.
Choose the correct answer.

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