Significant deviations between actual and budget amounts could identify and help resolve problems. True False
Answer:
True
Explanation: Deviations are the differences between the actual results and the standards laid down while budegting. If the difference is niteworthy , corrective steps can be taken to as to minimize the difference between and actual and planned actions.
Significant deviations between actual and budget amounts could identify and help resolve problems. True False
The fixed setup overhead flexibleminus−budget variance is calculated as actual costs minus− flexibleminus−budget variance. True False
Describe an example of how an unfavorable difference between actual and budget amounts on a static budget can become a favorable difference on a flexible budget.
Completely and thoroughly explain how a Cause and Effect Diagram could be used to identify and resolve the causes of specific problems in a company that makes an Automobile or a Truck.
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...
Planning to purchase materials in bulk amounts will affect the standard price for direct materials. True False Health insurance and other benefits are part of the calculation of the standard price for direct labor. True False Variable overhead is generally combined with fixed overhead in standard costing. True False The flexible budget variance is equal to the difference between actual costs incurred and budgeted costs. True False
true or false // In a significant correlation you can assume causation between the independent and dependent variables.
Which of the following is false: A. The flexible budget is prepared using the actual volume achieved during the period. B. The difference between actual results and the master budget is called the master budget variance. C. The volume variance is due to causes other than volume. D. The master budget variance can be split into two components: a volume variance and a flexible budget variance.
In multiple regression, the intercept must be tested to determine if it is significant. True False The interpolation forecast represents a forecast using the actual data from which the regression equation was computed. True False
QUESTION 16 True or False? The state health department is creating a strategic plan to help determine the need for a childhood obesity program. They identify that the department's workforce is highly committed. This is an example of an opportunity in terms of SWOT analysis True O False QUESTION 17 True or False? Key issue analysis is a way an organization can plan for significant and relevant events that would influence the strategic plan. True False QUESTION 18 True or...
True or False 1.Actual sales rarely match budgeted sales in the master budget. 2.Standard costs are used to establish the flexible budget for direct labor. 3.The cause of one variance might influence another variance. 4.Management by exception is a term used to describe managers who look at all variances, regardless of the amount. 5.Favorable variances are recorded with a credit to the appropriate variance account.