Which of the following statements is false? Standard costs (e.g., how much should be paid for each unit of input) are benchmarks for measuring performance. Managers should investigate only unfavorable...

Standard costs (e.g., how much should be paid for each unit of input) are benchmarks for measuring performance.

Managers should investigate only unfavorable variances.

Variance analysis enhances responsibility accounting.

A variance is the difference between the budgeted amount and actual amount.