SE_Ch11 - SAMPLE EXAM: CHAPTER 11 *SOLUTION FOUND AT END OF...

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SAMPLE EXAM: CHAPTER 11 ***SOLUTION FOUND AT END OF FILE*** 1. A flexible budget a. eliminates the need to compare actual costs to budgeted costs. b. is not useful in controlling variable costs. c. provides information about what variable and fixed costs should be at the actual level of activity. d. will always show the total budgeted fixed costs to be the same amount at any level of activity. USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT 2 QUESTIONS: Kuczenski Corporation's cost formula for its manufacturing overhead is $45,700 per month plus $53 per machine-hour. For the month of March, the company planned for activity of 6,200 machine-hours, but the actual level of activity was 6,150 machine-hours. The actual manufacturing overhead for the month was $373,630. 2. The manufacturing overhead in the planning (static) budget for March is closest to: A. $373,630 B. $371,650 C. $376,668 D. $374,300 3. The manufacturing overhead in the flexible budget for March is closest to: A. $371,650
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This note was uploaded on 11/22/2011 for the course ACCT 230 taught by Professor Allen during the Fall '08 term at Texas A&M.

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SE_Ch11 - SAMPLE EXAM: CHAPTER 11 *SOLUTION FOUND AT END OF...

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