Question Details

Actual performance and standard costs at the budgeted sales 




1. Static budget is another name for:
A. Standard budget.
B. Flexible budget.
C. Variable budget.
D. Fixed budget.
E. Master budget.
2. Variable budget is another name for:
A. Cash budget.
B. Flexible budget.
C. Fixed budget.
D. Manufacturing budget.
E. Rolling budget.
3. Identify the situation that will result in a favorable variance.
A. Actual revenue is higher than budgeted revenue.
B. Actual revenue is lower than budgeted revenue.
C. Actual income is lower than expected.
D. Actual costs are higher than budgeted costs.
E. Actual expenses are higher than budgeted expenses.
4. A flexible budget performance report compares the differences between:
A. Actual performance and budgeted performance based on actual sales volume.
B. Actual performance over several periods.
C. Budgeted performance over several periods.
D. Actual performance and budgeted performance based on budgeted sales volume.
E. Actual performance and standard costs at the budgeted sales volume.
5. Sales variance analysis is useful for:
A. Planning purposes only.
B. Budgeting purposes only.
C. Control purposes only.
D. Planning and control purposes.
E. Planning and budgeting purposes.





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