Question 1

The activity variance for materials and supplies in November would be closest to:

Accepted Answer

A) $320 U 
B) $286 U 
C) $286 F 
D) $320 F 
A) $320 U 
B) $286 U 
C) $286 F 
D) $320 F

Question 2

The selling and administrative expenses in the planning budget for January would be closest to:

Accepted Answer

A) $24,290 
B) $24,334 
C) $23,500 
D) $23,504 
A) $24,290 
B) $24,334 
C) $23,500 
D) $23,504

Question 3

The spending variance for medical supplies in February would be closest to:

Accepted Answer

A) $390 F 
B) $250 U 
C) $250 F 
D) $390 U 
A) $390 F 
B) $250 U 
C) $250 F 
D) $390 U

Question 4

The net operating income in the planning budget for June would be closest to:

Accepted Answer

A) $12,486 
B) $15,573 
C) $12,840 
D) $15,379 
A) $12,486 
B) $15,573 
C) $12,840 
D) $15,379

Question 5

The revenue variance for October would be closest to:

Accepted Answer

A) $680 F 
B) $1,040 F 
C) $1,040 U 
D) $680 U 
A) $680 F 
B) $1,040 F 
C) $1,040 U 
D) $680 U

Question 6

Orscheln Snow Removal's cost formula for its vehicle operating cost is $2,800 per month plus $381 per snow-day. For the month of February, the company planned for activity of 17 snow-days, but the actual level of activity was 14 snow-days. The actual vehicle operating cost for the month was $7,920. The activity variance for vehicle operating cost in February would be closest to:

Accepted Answer

A) $1,357 F 
B) $1,357 U 
C) $1,143 F 
D) $1,143 U 
A) $1,357 F 
B) $1,357 U 
C) $1,143 F 
D) $1,143 U

Question 7

The activity variance for wages and salaries in May would be closest to:

Accepted Answer

A) $201 F 
B) $201 U 
C) $641 U 
D) $641 F 
A) $201 F 
B) $201 U 
C) $641 U 
D) $641 F

Question 8

Sammartino Clinic uses patient-visits as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November:   Required:
Prepare the clinic's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U).

Accepted Answer

The answer of Sammartino Clinic uses patient-visits as its measure...

Question 9

The plane operating costs in the planning budget for January would be closest to:

Accepted Answer

A) $247,351 
B) $246,440 
C) $239,868 
D) $242,077 
A) $247,351 
B) $246,440 
C) $239,868 
D) $242,077

Question 10

The administrative expenses in the planning budget for June would be closest to:

Accepted Answer

A) $3,429 
B) $3,408 
C) $3,520 
D) $3,518 
A) $3,429 
B) $3,408 
C) $3,520 
D) $3,518

Question 11

The direct materials in the flexible budget for October would be closest to:

Accepted Answer

A) $95,095 
B) $97,835 
C) $95,810 
D) $96,380 
A) $95,095 
B) $97,835 
C) $95,810 
D) $96,380

Question 12

Vera Corporation bases its budgets on the activity measure customers served. During September, the company planned to serve 28,000 customers, but actually served 27,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting:   Required:
Prepare the company's flexible budget for September based on the actual level of activity for the month.

Accepted Answer

The answer of Vera Corporation bases its budgets on the...

Question 13

The administrative expenses in the planning budget for August would be closest to:

Accepted Answer

A) $5,740 
B) $5,934 
C) $6,030 
D) $5,760 
A) $5,740 
B) $5,934 
C) $6,030 
D) $5,760

Question 14

The medical supplies in the flexible budget for October would be closest to:

Accepted Answer

A) $18,515 
B) $18,350 
C) $17,654 
D) $17,998 
A) $18,515 
B) $18,350 
C) $17,654 
D) $17,998

Question 15

Hernande Urban Diner is a charity supported by donations that provides free meals to the homeless. The diner's budget for October was based on 2,800 meals. The diner's director has provided the following cost data to use in the budget: groceries, $2.45 per meal; kitchen operations, $5,200 per month plus $1.70 per meal; administrative expenses, $2,600 per month plus $0.65 per meal; and fundraising expenses, $1,100 per month. The director has also provided the diner's statement of actual expenses for the month:   Required:
Prepare a report showing the diner's spending variances for each of the expenses and for total expenses for October. Label each variance as favorable (F) or unfavorable (U).

Accepted Answer

The answer of Hernande Urban Diner is a charity supported...

Question 16

The selling and administrative expense in the flexible budget for April would be closest to:

Accepted Answer

A) $357,501 
B) $359,900 
C) $357,820 
D) $364,490 
A) $357,501 
B) $359,900 
C) $357,820 
D) $364,490

Question 17

The activity variance for selling and administrative expense in April would be closest to:

Accepted Answer

A) $4,590 F 
B) $2,080 F 
C) $2,080 U 
D) $4,590 U 
A) $4,590 F 
B) $2,080 F 
C) $2,080 U 
D) $4,590 U

Question 18

The net operating income in the flexible budget for August would be closest to:

Accepted Answer

A) $26,700 
B) $19,446 
C) $27,620 
D) $19,836 
A) $26,700 
B) $19,446 
C) $27,620 
D) $19,836

Question 19

The net operating income in the planning budget for May would be closest to:

Accepted Answer

A) $10,300 
B) $15,926 
C) $10,130 
D) $16,115 
A) $10,300 
B) $15,926 
C) $10,130 
D) $16,115

Question 20

The direct materials in the flexible budget for August would be closest to:

Accepted Answer

A) $59,840 
B) $60,686 
C) $59,797 
D) $59,400 
A) $59,840 
B) $60,686 
C) $59,797 
D) $59,400

The activity variance for materials and supplies in November would be closest to:

The selling and administrative expenses in the planning budget for January would be closest to:

The spending variance for medical supplies in February would be closest to:

The net operating income in the planning budget for June would be closest to:

The revenue variance for October would be closest to:

The activity variance for wages and salaries in May would be closest to:

The plane operating costs in the planning budget for January would be closest to:

The administrative expenses in the planning budget for June would be closest to:

The direct materials in the flexible budget for October would be closest to:

The administrative expenses in the planning budget for August would be closest to:

The medical supplies in the flexible budget for October would be closest to:

The selling and administrative expense in the flexible budget for April would be closest to:

The activity variance for selling and administrative expense in April would be closest to:

The net operating income in the flexible budget for August would be closest to:

The net operating income in the planning budget for May would be closest to:

The direct materials in the flexible budget for August would be closest to:

Managerial Accounting and Cost Concepts

Cost-Volume-Profit Relationships

Job-Order Costing

Variable Costing and Segment Reporting: Tools for Management

Activity-Based-Costing: a Tool to Aid Decision Making

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Capital Budgeting Decisions

Profit Planning

Standard Costs and Variances

Performance Measurement in Decentralized Organizations

Managerial Accounting and Cost Concepts

Job-Order Costing

Activity-Based-Costing: a Tool to Aid Decision Making

A Capital Budgeting Decisions

Standard Costs and Variances

Performance Measurement in Decentralized Organizations

Performance Measurement in Decentralized Organizations

Profitability Analysis

Pricing Products and Services

Filters

Exam 11: Flexible Budgets and Performance Analysis

The activity variance for materials and supplies in November would be closest to:

The selling and administrative expenses in the planning budget for January would be closest to:

The spending variance for medical supplies in February would be closest to:

The net operating income in the planning budget for June would be closest to:

The revenue variance for October would be closest to:

The activity variance for wages and salaries in May would be closest to:

The plane operating costs in the planning budget for January would be closest to:

The administrative expenses in the planning budget for June would be closest to:

The direct materials in the flexible budget for October would be closest to:

The administrative expenses in the planning budget for August would be closest to:

The medical supplies in the flexible budget for October would be closest to:

The selling and administrative expense in the flexible budget for April would be closest to:

The activity variance for selling and administrative expense in April would be closest to:

The net operating income in the flexible budget for August would be closest to:

The net operating income in the planning budget for May would be closest to:

The direct materials in the flexible budget for August would be closest to:

Managerial Accounting and Cost Concepts

Cost-Volume-Profit Relationships

Job-Order Costing

Variable Costing and Segment Reporting: Tools for Management

Activity-Based-Costing: a Tool to Aid Decision Making

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Capital Budgeting Decisions

Profit Planning

Standard Costs and Variances

Performance Measurement in Decentralized Organizations

Managerial Accounting and Cost Concepts

Job-Order Costing

Activity-Based-Costing: a Tool to Aid Decision Making

A Capital Budgeting Decisions

Standard Costs and Variances

Performance Measurement in Decentralized Organizations

Performance Measurement in Decentralized Organizations

Profitability Analysis

Pricing Products and Services

Filters