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51 non financial measures are often lined to the inputs or outputs of an activity or 4294946

 

 

51. Non-financial measures are often lined to the inputs or outputs of an activity or process. 
 

 

52. A company must choice either a standard system or nonfinancial performance measures to evaluate the performance of a company. 
 

 

53. Nonfinancial performance output measures are used to improve the input measures. 
 

 

54. An example of a nonfinancial measure is the number of customer complaints. 
 

 

55. A company should only use nonfinancial performance measures when financial measures cannot be calculated. 
 

 

56. Which of the following conditions normally would not indicate that standard costs should be revised? 
A. The engineering department has revised product specifications in responding to customer suggestions.
B. The company has signed a new union contract which increases the factory wages on average by $5.00 an hour.
C. Actual costs differed from standard costs for the preceding week.
D. The world price of raw materials increased.

 

57. Standards that represent levels of operation that can be attained with reasonable effort are called: 
A. theoretical standards
B. ideal standards
C. variable standards
D. normal standards

 

58. Standard costs are used in companies for a variety of reasons. Which of the following is not one of the benefits for using standard costs? 
A. Used to indicate where changes in technology and machinery need to be made.
B. Used to identify inventory
C. Used to plan direct materials, direct labor, and factory factory overhead.
D. Used to control costs.

 

59. The principle of exceptions allows managers to 
A. focus on correcting variances between standard costs and actual costs.
B. focus on correcting variances between variable costs and actual costs.
C. focus on correcting variances between competitor’s costs and actual costs.
D. focus on correcting variances between competitor’s costs and standard costs.

 

60. Periodic comparisons between planned objectives and actual performance are reported in: 
A. zero-base reports
B. budget performance reports
C. master budgets
D. budgets

 

 

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