QuizCh10.pdf

QuizCh10.pdf - Managerial Accounting Quiz Chapter 1l 1 A...

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Managerial Accounting Quiz Chapter 1l 1. A key feature of a flexibfe budget is that actual results can activity. a;-\ I I nre lalse be compared to budgeted costs at the same level of 2.In a flexible budget, when the activity declines, the variable costs per unit also declines. rrue {e!D 3. In a standard costing system, if the actual fixed manufacturing overhead cost exceeds the budgeted fixed manufacturing overhead cost for the period, then fixed manufacturing overhead cost would be underapplied for the period. .:S",r /t-"_-. - True {-a$), u --- 4. The-purpose of a flexib_le b,ll4g-et is to: A. allow management some-latitude in meeting goals. B. eliminate fluctuations in production reports by ignoring variable costs. cj compare actual and budgeted results at virtually any level of activity. D. reduce the time to prepare the annual budget. 5. The activity base that is used for a flexible budget for an overhead cost should be: A. direct labor-hcurs. ts. units of output.
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This note was uploaded on 09/08/2010 for the course BUS 21 at San Jose State.

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QuizCh10.pdf - Managerial Accounting Quiz Chapter 1l 1 A...

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