consider the following terms a benchmarking b efficiency vari 372667

Consider the following terms:

a. Benchmarking

b. Efficiency Variance

c. Fixed Overhead Spending Variance

d. Price Variance

e. Fixed Overhead Volume Variance

f. Standard Cost

Consider the following definitions:

_____1. Measures whether the quantity of materials or labor used to make the actual number of outputs is within the standard allowed for that number of outputs.

_____2. Using standards based on ?obest practice.??

_____3. Measures how well the business keeps unit prices of material and labor inputs within standards.

_____4. A budget for a single unit.

_____5. Compares actual overhead spent to budgeted overhead costs.

_____6. Arises when budgeted overhead differs from applied overhead.

Requirement

1. Match each term to the correct definition.