Match each of the following phrases with the term it describes. a. Summarizes actual costs, standard costs, and the differences for units produced
b. Actual cost > standard cost at actual volumes
c. Actual cost < standard cost at actual volumes
d. Currently attainable standard
e. Theoretical standard

1. Favorable cost variance
2. Normal standard
3. Ideal standard
4. Budget performance report
5. Unfavorable cost variance

a. Phrase: Summarizes actual costs, standard costs, and the differences for units produced

Terms it describes: Budget performance report

b. Phrase: Actual cost > standard cost at actual volumes

Terms it describes: Unfavorable cost variance

c. Phrase: Actual cost < standard cost at actual volumes

Terms it describes: Favorable cost variance

d. Phrase: Currently attainable standard

Terms it describes: Normal standard

e. Phrase: Theoretical standard

Terms it describes: Ideal standard

the third answer is correct.

answer; institution;