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Practice Quiz 11 - Practice Quiz 11 1 A budget that is...

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Practice Quiz 11 1. A budget that is based on the actual activity of a period is known as a: A) continuous budget. B) flexible budget. C) static budget. D) master budget. 2. When using a flexible budget, a decrease in activity within the relevant range: 3. The activity base that is used for a flexible budget for an overhead cost should be: 4. If the denominator activity is less than the standard hours allowed for the actual output, one would expect that: 5. Riggs Enterprise's flexible budget cost formula for indirect materials, a variable cost, is $0.45 per unit of output. If the company's performance report for last month shows a $90 favorable variance for indirect materials and if 8,700 units of output were produced last month, then the actual costs incurred for indirect materials for the month must have been: A) $4,005 B) $3,915 C) $3,825 D) $3,735 1
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6. Which of the following standard cost variances would usually be least controllable by a production supervisor?
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