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# Test 3 - View Attempt 1 of 1 Title Exam Three Started...

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View Attempt 1 of 1 Title: Exam Three Started: December 7, 2010 10:03 AM Submitted: December 7, 2010 12:05 PM Time spent: 02:02:15 Total score: 80/100 = 80% Total score adjusted by 0.0 Maximum possible score: 100 1. A flexible budget is a budget that: Student Response Value Correct Answer Feedback A. is updated with actual costs as they occur during the period. B. is updated to reflect the actual level of activity during the period. 100% C. is prepared using a computer spreadsheet application. D. contains only variable production costs. Score: 4/4 2.

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Marchi Family Inn is a bed and breakfast establishment in a converted 100-year-old mansion. The Inn's guests appreciate its gourmet breakfasts and individually decorated rooms. The Inn's overhead budget for the most recent month appears below: The Inn's variable overhead costs are driven by the number of guests. What would be the total budgeted overhead cost for a month if the activity level is 70 guests? Student Response Value Correct Answer Feedback General 3.
Blackwelder Snow Removal's cost formula for its vehicle operating cost is \$1,240 per month plus \$348 per snow-day. For the month of December, the company planned for activity of 12 snow-days, but the actual level of activity was 14 snow-days. The actual vehicle operating cost for the month was \$6,330. The vehicle operating cost in the planning budget for December would be closest to: Student Response Value Correct Answer Feedback General 4. Entler Framing's cost formula for its supplies cost is \$2,250 per month plus \$16 per frame. For the month of June, the company planned for activity of 502 frames, but the actual level of activity was 497 frames. The actual supplies cost for the month was \$10,580. The supplies cost in the planning budget for June would be closest to: Student Response Value Correct Answer Feedback General 5.

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Naval Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is \$430 per month plus \$99 per job plus \$10 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in March to be 12 jobs and 126 meals, but the actual activity was 9 jobs and 124 meals. The actual cost for catering supplies in March was \$2,550. The
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Test 3 - View Attempt 1 of 1 Title Exam Three Started...

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