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Question 10 (1 point) A static budget report a) is appropriate in evaluating a manager's effectiveness...
uestion 8 (1 point) A static budget is usually appropriate in evaluating a manager's effectiveness in...
uestion 8 (1 point) A static budget is usually appropriate in evaluating a manager's effectiveness in controlling U a) fixed manufacturing costs and variable selling and administrative expenses. b) variable manufacturing costs and variable selling and administrative expenses. C) fixed manufacturing costs and fixed selling and administrative expenses. d) variable manufacturing costs and fixed selling and administrative expenses.
Case 1 (2 marks, 2min.) In a non-profit organization, evaluating performance is done through a static...
Case 1 (2 marks, 2min.) In a non-profit organization, evaluating performance is done through a static budget; it is argued that such budget is appropriate in evaluating a manager's effectiveness in controlling all types of costs. Opinion Justification
Question 9 Jim Thome has prepared the following list of statements about budgetary control. Identify each...
Question 9 Jim Thome has prepared the following list of statements about budgetary control. Identify each statement as true or false. True v 1. Budget reports compare actual results with planned objectives. 2. All budget reports are prepared on a weekly basis. False v True v 3. Management uses budget reports to analyze differences between actual and planned results and determine their causes. 4. As a result of analyzing budget reports, management may either take corrective action or modify future...
Question 1 (1 point) A static budget report is appropriate for a) fixed manufacturing costs. b)...
Question 1 (1 point) A static budget report is appropriate for a) fixed manufacturing costs. b) both fixed manufacturing costs and fixed selling and administrative expenses. c) variable selling and administrative expenses. d) fixed selling and administrative expenses.
ALL TRUE OR FALSE QUESTIONS: A) Differences between the static planning budget and the flexible budget...
ALL TRUE OR FALSE QUESTIONS: A) Differences between the static planning budget and the flexible budget show what should have happened because the actual level of activity differed from what had been planned. B) Fixed costs should not be included in a flexible budget because they do not change when the level of activity changes. C) An activity variance is the difference between an actual revenue or cost and the revenue or cost in the flexible budget that is adjusted...
eted, total fixed costs should be higher than expected. If activity is lower than o included in a flexible budget b...
eted, total fixed costs should be higher than expected. If activity is lower than o included in a flexible budget because they do not change when the level of activity 10 Which of the following statements is true? A. If activity is higher than expected, total fixed cos expected, total fixed costs should be lower than expected B Fixed costs should not be included in a flexible bu changes. A revenue variance is favorable if the actual revenue is greater...
10 Which of the following statements is true? activity is higher than expected total fixed costs...
10 Which of the following statements is true? activity is higher than expected total fixed costs should be higher than expected. I civity is lower than expected, total fixed costs should be lower than expected Fixed costs should not be included in a flexible budget because they do not change when the level of activity changes. C A revenue variance is favorable if the actual revenue is greater than the revenue in the master (static planning) budget. A spending variance...
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning...
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning budget prepared at the beginning of the month. When the actual level of activity is higher than expected, which of the following would typically be expected? Variable costs would show unfavorable variances O Varíable costs would show favorable variances O Fixed costs would show favorable varlances Fixed costs would show unfavorable variances. None of the above. Cosden Corporation is an oil well service company...
ratchet company uses budgets and controlling costs The August 2017 budget report for the company assembling...
ratchet company uses budgets and controlling costs The
August 2017 budget report for the company assembling department is
as follows
The monthly budget amounts in the report were based on
an expected production of $60,000 units per month or $720,000 units
per year The assembling department manager is pleased with the
report and expects a raise or at least praise for a job well done
The company President however is unhappy with the results for
August because only 58,000 units...
Exercise 16-24 (Static) Flexible Budget (LO 16-2) Use the given data shown in the graph. Required:...
Exercise 16-24 (Static) Flexible Budget (LO 16-2)
Use the given data shown in the graph.
Required:
a. What is the budgeted fixed cost per
period?
b. What is the budgeted variable cost per
unit?
c. What is the value of F (that is,
the flexible budget for an activity level of 8,000 units)?
d. What is the flexible budget cost amount if
the actual activity had been 16,000 units?
a.
Budgeted fixed cost
b.
Budgeted variable cost
per unit
c....
uestion 8 (1 point) A static budget is usually appropriate in evaluating a manager's effectiveness in controlling U a) fixed manufacturing costs and variable selling and administrative expenses. b) variable manufacturing costs and variable selling and administrative expenses. C) fixed manufacturing costs and fixed selling and administrative expenses. d) variable manufacturing costs and fixed selling and administrative expenses.
Question 9 Jim Thome has prepared the following list of statements about budgetary control. Identify each statement as true or false. True v 1. Budget reports compare actual results with planned objectives. 2. All budget reports are prepared on a weekly basis. False v True v 3. Management uses budget reports to analyze differences between actual and planned results and determine their causes. 4. As a result of analyzing budget reports, management may either take corrective action or modify future...
Question 1 (1 point) A static budget report is appropriate for a) fixed manufacturing costs. b) both fixed manufacturing costs and fixed selling and administrative expenses. c) variable selling and administrative expenses. d) fixed selling and administrative expenses.
eted, total fixed costs should be higher than expected. If activity is lower than o included in a flexible budget because they do not change when the level of activity 10 Which of the following statements is true? A. If activity is higher than expected, total fixed cos expected, total fixed costs should be lower than expected B Fixed costs should not be included in a flexible bu changes. A revenue variance is favorable if the actual revenue is greater...
10 Which of the following statements is true? activity is higher than expected total fixed costs should be higher than expected. I civity is lower than expected, total fixed costs should be lower than expected Fixed costs should not be included in a flexible budget because they do not change when the level of activity changes. C A revenue variance is favorable if the actual revenue is greater than the revenue in the master (static planning) budget. A spending variance...
Hoppy Corporation compares a monthly flexible budget based on actual operating results to a static planning budget prepared at the beginning of the month. When the actual level of activity is higher than expected, which of the following would typically be expected? Variable costs would show unfavorable variances O Varíable costs would show favorable variances O Fixed costs would show favorable varlances Fixed costs would show unfavorable variances. None of the above. Cosden Corporation is an oil well service company...
ratchet company uses budgets and controlling costs The
August 2017 budget report for the company assembling department is
as follows
The monthly budget amounts in the report were based on
an expected production of $60,000 units per month or $720,000 units
per year The assembling department manager is pleased with the
report and expects a raise or at least praise for a job well done
The company President however is unhappy with the results for
August because only 58,000 units...
Exercise 16-24 (Static) Flexible Budget (LO 16-2)
Use the given data shown in the graph.
Required:
a. What is the budgeted fixed cost per
period?
b. What is the budgeted variable cost per
unit?
c. What is the value of F (that is,
the flexible budget for an activity level of 8,000 units)?
d. What is the flexible budget cost amount if
the actual activity had been 16,000 units?
a.
Budgeted fixed cost
b.
Budgeted variable cost
per unit
c....
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