Select the Term That Best Fits the Definition or Description;enter

Essay

Select the term that best fits the definition or description;enter the number of the term in the column for Your Answer. $\begin{array}{|l|l|l|} \hline \text { Your Answer } & \text { Definition or Descuiption } &\text { Term } \\\hline & \text {A. The difference between actual sales in dollars and the standard sales price per unit times the actual level of activity } &\text {1. Economies of scale } \\\hline & \text { B. A variance that occuss when the amount of applied overhead differs from the actual overhead costs } &\text {2. Flexible budgets } \\\hline & \text {C. Budgets that show expected revenues and costs for muliple levels of activity } &\text {3. Lax standards } \\\hline & \text {D. Differences between standard and actual amounts } &\text {4. Making the mubers } \\\hline & \text {E. The lower unit cost advantage possible for companies with high fixed costs when volume increases } &\text {5. Management by exception } \\\hline & \text {F. Standard representing a level of performance attainable wit reasomable effort } &\text {6. Practical standard } \\\hline & \text {G. Marketing managers attaining the sales vohune indicated in the master budget } &\text {7. Sales price variance } \\\hline & \text {H. Easily attainable goals that can be accomplished with minnal effort } &\text {8. Total ovenhead vanance } \\\hline & \text {I. The use of management resources in areas that are not performing in accordance with expectations } &\text {9. Unfavorable variance } \\\hline & \text { J. A variance that occurs when actual costs exceed standard costs or when actual sales are less than standard sales } &\text {10. Variances } \\\hline\end{array}$ First set of changes are due to wording in text ("…Melrose has a fixed cost volume variance of $16,200 ($307,800 budgeted fixed cost − $291,600 applied fixed cost)"