Reference no: EM132632308

Problem 1: All of the following products or services are likely to use job costing except

A. the manufacture of cans of pineapple slices

B. the costing by a solicitor of a dry cleaner's bankruptcy case

C. the building of a private yacht for a customer

D. an audit of a town library by a chartered accountant

Problem 2: If actual costs are less than budgeted costs then the variance will be:

A. unfavourable and immaterial.

B. favourable.

C. unfavourable.

D. immaterial.

Problem 3: The difference between the standard and actual prices paid for resources purchased is a(n):

A. price variance.

B. efficiency variance.

C. volume variance.

D. efficiency variance.