COST ACCOUNTING
STANDARD COSTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Purchasing Agent.
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The Production Manager
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The Production & Maintenance Managers
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Supervisor
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Detailed explanation-1: -Correct option and explanation: Production supervisor is usually held responsible for materials usage variances.
Detailed explanation-2: -The material yield variance is the difference between the standard and actual number of units used in the production process, multiplied by the standard cost per unit. This variance is the responsibility of the production department.
Detailed explanation-3: -The materials price variance is usually the responsibility of the purchasing manager. The materialsquantity and labor efficiency variances are usually the responsibility of production managers andsupervisors.
Detailed explanation-4: -The materials price variance is usually the responsibility of the purchasing manager. The materials quantity and labor efficiency variances are usually the responsibility of production managers and supervisors.