1) Standard can be regarded as budgeted cost for one unit of product.

i) True
ii) False

2) Different companies, having dissimilar strategies, must have different balanced scorecards even if they are in same industry.

i) True
ii) False

3) Throughput time is amount of time need to process raw materials into completed products.

i) True
ii) False

4) Unfavourable labour rate variance can haapen if workers with high hourly wage rates are assigned to work on products whose standards assume workers with low hourly wage rates.

i) True
ii) False

5) In using statistical control chart, observation points plotted between upper and lower limits are considered to be random or chance occurrences and would not typically result in investigation.

i) True
ii) False