What are control limits and how are they set

Reference no: EM131342346

1. The budget variance for variable production costs is broken down into quantity and price variances. Explain why the quantity variance is more useful for control purposes than the price variance.

2. When should a standard cost variance be investigated?

3. What are control limits, and how are they set?

4. Explain why the materials price variance is often computed at the point of purchase rather than at the point of issuance.

Reference no: EM131342346

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