What are the three primary uses of a standard cost system? In a business that routinely manufactures...

1. The overhead spending and overhead efficiency variances are said to be controllable, but the volume variance is said to be noncontrollable. Explain.
2. How are actual and standard costs recorded in a standard cost system?
3. How are insignificant variances closed at the end of an accounting period? How are significant variances closed at the end of an accounting period? Why is there a difference in treatment?
4. What are the three primary uses of a standard cost system? In a business that routinely manufactures the same products or performs the same services, why are standards helpful?