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