Which of the following items will be same for a

This preview shows page 8 - 11 out of 68 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Cornerstones of Cost Management
The document you are viewing contains questions related to this textbook.
Chapter 8 / Exercise 14
Cornerstones of Cost Management
Hansen/Mowen
Expert Verified
2) Which of the following items will be same for a flexible budget and a master budget? A) total variable cost B) total expected fixed costs C) total contribution marginD) total expected revenuesAnswer:
BDiff: 2Objective: 2AACSB: Analytical thinking
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Cornerstones of Cost Management
The document you are viewing contains questions related to this textbook.
Chapter 8 / Exercise 14
Cornerstones of Cost Management
Hansen/Mowen
Expert Verified
3) A flexible budget ________.
BDiff: 1Objective: 2AACSB: Analytical thinking4) A company budgets 10,000 units of sales based on a projected selling price of $13.00. The actual units sold were 15,000 at a price of $10. What is the flexible budget for sales?
AExplanation: 15,000 x $13Diff: 2Objective: 2AACSB: Analytical thinking5) An unfavorable flexible-budget variance for variable costs may be the result of ________.
ADiff: 3Objective: 2AACSB: Analytical thinking6) In a flexible budget ________.A) variable costs are calculated proportionately for the budgeted level of salesB) fixed costs are calculated proportionately for the actual level of salesC) fixed costs are kept at the same level of static budgetD) variable costs are kept at the same level of static budgetAnswer:
CDiff: 2Objective: 2AACSB: Analytical thinking
7) Which of the following information is needed to prepare a flexible budget?
ADiff: 3Objective: 2AACSB: Analytical thinking8) Which of the following is true of flexible budget?
ADiff: 2Objective: 2AACSB: Analytical thinking9) A flexible-budget variance is $600 favorable for unit-related costs. This indicates that costs were ________.
DDiff: 2Objective: 2AACSB: Analytical thinking

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture