Chapter 26, Problem 17E

To determine

(a)

Variance: The variances are used to calculate the variation in actual cost by comparing it to the standard cost. Variances normally find the difference in between cost that is actually incurred and cost which was estimated by the business.

Balanced Scorecard: The balanced scorecard is used to check or estimate the company performance from a series perspective. Balance scorecard evaluates the performance of company to make sure the performance level will be able to achieve the company’s goal. There are four prospective in the balanced score card perspective.

• The financial perspective
• The customer perspective
• The internal process perspective
• The learning and growth prospective

Normal Standard: The performance level which is possible to possible to achieve in normal operating condition is called normal standard.

Ideal Standard: The favorable level of performance which is possible to attain in perfectworking condition is called Ideal standard.

Non Financial Measure: The tool for evaluating the performance which is not based on monetary terms is called non-financial measure.

To match: the following description with the terms that are given.

(b)

To determine

To match: the following description with the terms that are given.

(c)

To determine

To match: the following description with the terms that are given.

(d)

To determine

To match: the following description with the terms that are given.

(e)

To determine

To match: the following description with the terms that are given.

(f)

To determine

To match: the following description with the terms that are given.

(g)

To determine

To match: the following description with the terms that are given.

(h)

To determine

To match: the following description with the terms that are given.