The sum of Price Variance and Quantity Variance gives a. Planned Variance b. Spending Variance c....
Homework Answers
Spending variance.
(select the option Spending variance).
A spending variance = Price variance + Quantity variance.
Spending variance can also be known as the difference between actual amount spent and the amount budgeted to be spent.
Profit variance is the difference between actual profit and budgeted profit.
Income variance is the difference between actual revenue and budgeted revenue.
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The sum of Price Variance and Quantity Variance gives
a. Planned Variance
b. Spending Variance
c....
1) The sum of the variable overhead spending variance, the variable overhead efficiency variance, and the...
1) The sum of the variable overhead spending variance, the variable overhead efficiency variance, and the fixed overhead spending variance is the: Select one: a. Production variance. b. Quantity variance. c. Volume variance. d. Price variance. e. Controllable variance. 2) Capital budgeting decisions are risky because: Select one: a. The outcome is uncertain. b. Large amounts of money are usually involved. c. The investment involves a long-term commitment. d. The decision could be difficult or impossible to reverse. e. All...
The variable overhead spending variance is calculated as: A. Actual Cost- (actual quantity x standard price)...
The variable overhead spending variance is calculated as: A. Actual Cost- (actual quantity x standard price) B. Actual Cost -(standard quantity x standard price) C. Standard Cost - (Acutal quantity x actual price) D. Actual results minus flexible budget amount. (C is NOT the correct answer).
Integration Exercise 1 Activity Variance, Spending Variance, Materials Price Variance, Materials Quantity Variance [LO9-1, LO9-2, LO9-3,...
Integration Exercise 1 Activity Variance, Spending Variance, Materials Price Variance, Materials Quantity Variance [LO9-1, LO9-2, LO9-3, LO10-1] Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizzas. For the month of June, the company plans to make 1,000 pizzas. It has created a planning budget that includes a cost formula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actual cost...
Problem Activity Variance, Spending Variance, Materials Price Variance, Materials Quantity Variance Southside Pizzeria wants to improve...
Problem Activity Variance, Spending Variance, Materials Price Variance, Materials Quantity Variance Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizzas. For the month of June, the company plans to make 1,000 pizzas. It has created a planning budget that includes a cost formula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actual cost of the cheese that it used...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is les...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not...
emergency plz thanks 12. For the following questions refer to Figure 2. Spending C + Planned...
emergency plz thanks
12. For the following questions refer to Figure 2. Spending C + Planned 1000 500 150 75 150 1000 Income Figure 2: Aggregate Demand and Supply (a) In this economy, what is the quantity of planned investment? 5 points. (b) What is the value of the multiplier in this economy? 5 points. (c) Calculate the quantity of unplanned inventories at Y=750.5 points.
Planned spending is as follows: c 16 Planned spending s as follows: C = 600 +...
Planned spending is as follows: c
16 Planned spending s as follows: C = 600 + 0 7(Y-T)一200, P the following also states PAE? 200-500, G 200, NX-10 and T-1 50 which of A [905-7001 0.3Y B. 1905-700r C. 1910-700r] D. 1905-7001+07Y 17 The Fed would like to close a recessionary gap. To do this real interest rates must T This is accomplished by the money supply A increase; increasing B. increase, decreasing C. decrease, decreasing D. decrease; increasing 18....
Knowledge Check 04 Calculate the direct materials spending variance when the direct materials price variance is...
Knowledge Check 04 Calculate the direct materials spending variance when the direct materials price variance is $5,500 favorable and the direct materials quantity variance is $660 unfavorable. $4,840 unfavorable $6,160 unfavorable $4,840 favorable $6,160 favorable M9-9 (Algo) Calculating Direct Materials Cost Variances (LO 9. 3] Acoma, Inc., has determined a standard direct materials cost per unit of $7.60 (2 feet * $3.80 per foot). Last month, Acoma purchased and used 4,520 feet of direct materials for which it paid $16,724....
Q2. In the Keynesian cross model, equilibrium in the economy is obtained where planned spending equals...
Q2. In the Keynesian cross model, equilibrium in the economy is obtained where planned spending equals actual spending. (a) Explain what planned spending and actual spending are (b) Graphically present the equilibrium condition of the economy in the Keynesian cross model. (c) Explain how the economy adjusts to equilibrium if the economy finds itself with a level of planned spending which is less than actual spending (3 marks) (d) Explain why an increase in government spending leads to a greater...
An economy is initially at full employment, but a decrease in planned investment spending (a comp...
An economy is initially at full employment, but a decrease in planned investment spending (a component of autonomous expenditure) pushes the economy into recession. Assume that the marginal propensity to consume (mpc) of this economy is 0.75 and that the multiplier is 4 a. How large is the recessionary gap after the fall in planned investment? The recessionary gap is times the size of the fall in planned investment. b. By how much would the government have to change its...
Problem Activity Variance, Spending Variance, Materials Price Variance, Materials Quantity Variance Southside Pizzeria wants to improve its ability to manage the ingredient costs associated with making and selling its pizzas. For the month of June, the company plans to make 1,000 pizzas. It has created a planning budget that includes a cost formula for mozzarella cheese of $2.40 per pizza. At the end of June, Southside actually sold 1,100 pizzas and the actual cost of the cheese that it used...
Explanation not necessary When is the direct labor time variance favorable? A. when the actual quantity used is less than the standard quantity B. when the actual quantity used is greater than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price A flexible budget A. gives actual figures for selling price B. gives actual figures for variable and fixed overhead C. is not...
emergency plz thanks
12. For the following questions refer to Figure 2. Spending C + Planned 1000 500 150 75 150 1000 Income Figure 2: Aggregate Demand and Supply (a) In this economy, what is the quantity of planned investment? 5 points. (b) What is the value of the multiplier in this economy? 5 points. (c) Calculate the quantity of unplanned inventories at Y=750.5 points.
Planned spending is as follows: c
16 Planned spending s as follows: C = 600 + 0 7(Y-T)一200, P the following also states PAE? 200-500, G 200, NX-10 and T-1 50 which of A [905-7001 0.3Y B. 1905-700r C. 1910-700r] D. 1905-7001+07Y 17 The Fed would like to close a recessionary gap. To do this real interest rates must T This is accomplished by the money supply A increase; increasing B. increase, decreasing C. decrease, decreasing D. decrease; increasing 18....
Knowledge Check 04 Calculate the direct materials spending variance when the direct materials price variance is $5,500 favorable and the direct materials quantity variance is $660 unfavorable. $4,840 unfavorable $6,160 unfavorable $4,840 favorable $6,160 favorable M9-9 (Algo) Calculating Direct Materials Cost Variances (LO 9. 3] Acoma, Inc., has determined a standard direct materials cost per unit of $7.60 (2 feet * $3.80 per foot). Last month, Acoma purchased and used 4,520 feet of direct materials for which it paid $16,724....
An economy is initially at full employment, but a decrease in planned investment spending (a component of autonomous expenditure) pushes the economy into recession. Assume that the marginal propensity to consume (mpc) of this economy is 0.75 and that the multiplier is 4 a. How large is the recessionary gap after the fall in planned investment? The recessionary gap is times the size of the fall in planned investment. b. By how much would the government have to change its...
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