15. Consider the following statements: 1. "In some cases, a "favorable" variance can be worse than an "unfavorable" variance" [Consider comments about McDonald's [see textbook page 513] II. "A standard is a benchmark for measuring performance". [see textbook page 497] a. I is true; II is true b. I is true; II is false Answer c. I is false; II is true d. I is false; II is false 16. Consider the following statements: I. In Activity Based Costing [ABC] "Numerous overhead cost polls are used, each of which is allocated to products and other cost objects using its own unique measure of activity." II. In an Activity Based Costing [ABC] system, Both Direct Manufacturing Costs and Direct Non-manufacturing costs would be considered Product Costs. c. I is false; II is true d. I is false; Il is false a. I is true; II is true b. I is true; II is false
15. Consider the following statements: 1. "In some cases, a "favorable" variance can be worse than an "unfavorable" variance" [Consider comments about McDonald's [see textbook page 513] II. "A standard is a benchmark for measuring performance". [see textbook page 497] a. I is true; II is true b. I is true; II is false Answer c. I is false; II is true d. I is false; II is false 16. Consider the following statements: I. In Activity Based Costing [ABC] "Numerous overhead cost polls are used, each of which is allocated to products and other cost objects using its own unique measure of activity." II. In an Activity Based Costing [ABC] system, Both Direct Manufacturing Costs and Direct Non-manufacturing costs would be considered Product Costs. c. I is false; II is true d. I is false; Il is false a. I is true; II is true b. I is true; II is false
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Ma1.
![15. Consider the following statements:
I. "In some cases, a "favorable" variance can be worse than an "unfavorable" variance"
[Consider comments about McDonald's [see textbook page 513]
II. "A standard is a benchmark for measuring performance". [see textbook page 497]
a. I is true; II is true
b. I is true; Il is false
Answer
c. I is false; II is true
d. I is false; II is false
16. Consider the following statements:
I. In Activity Based Costing [ABC] "Numerous overhead cost polls are used, each of which is
allocated to products and other cost objects using its own unique measure of activity."
II. In an Activity Based Costing [ABC] system, Both Direct Manufacturing Costs and
Direct Non-manufacturing costs would be considered Product Costs.
a. I is true; II is true
c. I is false; II is true
b. I is true; II is false
d. I is false; II is false](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7bad4513-0226-4a9f-8fdf-f7ef797c4f4b%2F11bebb13-4f80-4e17-9f7a-07c54fee5be2%2F5kkwqrd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:15. Consider the following statements:
I. "In some cases, a "favorable" variance can be worse than an "unfavorable" variance"
[Consider comments about McDonald's [see textbook page 513]
II. "A standard is a benchmark for measuring performance". [see textbook page 497]
a. I is true; II is true
b. I is true; Il is false
Answer
c. I is false; II is true
d. I is false; II is false
16. Consider the following statements:
I. In Activity Based Costing [ABC] "Numerous overhead cost polls are used, each of which is
allocated to products and other cost objects using its own unique measure of activity."
II. In an Activity Based Costing [ABC] system, Both Direct Manufacturing Costs and
Direct Non-manufacturing costs would be considered Product Costs.
a. I is true; II is true
c. I is false; II is true
b. I is true; II is false
d. I is false; II is false
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