# AYB225-quiz3(2) - Question 1 1 out of 1 points The process...

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Question 1 1 out of 1 points The process by which a company's products or services are measured relative to the best possible levels of performance is known as: Selected Answer: benchmarking Question 2 1 out of 1 points Answer the following questions using the information below: JJ White planned to use \$82 of material per unit but actually used \$80 of material per unit, and planned to make 1,200 units but actually made 1,000 units. The flexible-budget amount is: Selected Answer: \$82,000 Question 3 1 out of 1 points Answer the following questions using the information below: Bates Corporation used the following data to evaluate their current operating system. The company sells items for \$10 each and used a budgeted selling price of \$10 per unit. Actual Budgeted Units sold 495,000 units 500,000 units Variable costs \$1,250,000 \$1,500,000 Fixed costs \$ 925,000 \$ 900,000 What is the static-budget variance of variable costs? Selected Answer: \$250,000 favourable Question 4 1 out of 1 points Answer the following questions using the information below: JJ White planned to use \$82 of material per unit but actually used \$80 of material per unit, and planned to make 1,200 units but actually made 1,000 units. The sales-volume variance is: Selected Answer: \$16,400 unfavourable Question 1 out of 1 points

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5 Answer the following questions using the information below: These questions refer to flexible-budget variance formulas with the following descriptions for the variables: A = Actual; B = Budgeted; P = Price; Q = Quantity. The best label for the formula (AP - BP) AQ is the: Selected Answer: price variance Question 6 1 out of 1 points The flexible-budget variance for direct cost inputs can be further subdivided into a: Selected Answer: price variance and an efficiency variance Question 7 1 out of 1 points Management by exception is the practice of concentrating on: Selected Answer: areas not operating as anticipated Question 8 1 out of 1 points One of the primary reasons for using cost variances is: Selected Answer: for financial control of operating activities and understanding why variances arise
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AYB225-quiz3(2) - Question 1 1 out of 1 points The process...

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