COTB MC Qu. 9-41 (Algo) Assume that the amount of one...Assume that the amount of one of a company's fixed expenses in its flexible budget is $46,000. Theactual amount of the expense is $49,600 and the amount in the company's planning budget is $46,000.The spending variance for this expense is:Multiple Choice$0.$3,600 U.

Here, the fixed expense in the flexible budget is 46,000, and the planning budget also shows 46,000,…

Answered: COTB MC Qu. 9-41 (Algo) Assume that the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume that a company's revenue in its flexible budget is $76,000. Its actual amount of revenue is $69,600 and the amount of revenue in the company's planning budget is $78,000. The amount of the revenue variance is: Multiple Choice $4.400 U. $6,400 F. $6.400 U. $8,400 U.
Assume that the amount of one of a company's fixed expenses in its flexible budget is $46,000. The actual amount of the expense is $47,400 and the amount in the company's planning budget is $46,000. The spending variance for this expense is: Multiple Choice $0. $1,400 U. $1,400 F. $2,800 U.
Assume that the amount of one of a company's variable expenses in its flexible budget is $40,000. The actual amount of the expense is $42,400 and the amount in the company's planning budget is $44,000. The spending variance for this expense is: Multiple Choice $4,800 U. $2,400 U. $2,400 F. $4,800 F.
Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Results Flexible Budget Planning Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,450 ? $ 8,400 What is the spending variance for wages and salaries expense? Multiple Choice $176 U $126 F $176 F $126 U
Assume that the amount of one of a company's variable expenses in its flexible budget is $40,000. The actual amount of the expense is $42, 000 and the amount in the company's planning budget is $44, 800 The activity variance for this expense is: Multiple Choice $2,400 U. $2,400 F. $4, 800 F. $4,800 U.
Assume that a company provided the following excerpts of information from its flexible budget performance report: Actual Flexible Planning Results Budget Budget Flights (q) 52 ? ? Expenses: Wages and salaries ($4,000 + $88.00q) $ 8,510 ? $ 8,400 What is the spending variance for wages and salaries expense? $66 U $176 F $176 U $66 F
A company provided the following information from its flexible budget performance report: Actual Flexible Master Results Budget Budget Trips (q) 52 Expenses: Maintenance expense ($4,000 + $88.00g) $8,495 ? $8,400 What is the spending variance for maintenance expense? Multiple Choice None of the answers is correct. $176 U $81 U $81 F
Assume that a company provided the following excerpts of information from its flexible budget performance report: Flexible Planning Actual Results Budget 52 Flights (q) Expenses: Wages and salaries ($4,000+ $88.00g) What is the activity variance for wages and salaries expense? Multiple Choice O $176 U $176 F $66 F $66 U $ 8,510 Budget ? ? ? $ 8,400
uiz i 2 Required information [The following information applies to the questions displayed below.] The fixed budget for 20,900 units of production shows sales of $438,900; variable costs of $62,700; and fixed costs of $142,000. If the company actually produces and sells 27,300 units, calculate the flexible budget income. Contribution margin Flexible Budget------ ---Flexible Budget at --- Variable Amount per Unit Total Fixed Cost 20,900 units 27,300 units
Help Save & Exit AA company provided the following information from its flexible budget performance report: Actual Results 52 Flexible Budget Master Budget Trips (q) 2. Expenses: Maintenance expense ($4,000 + $88.00g) $8,440 $8,400 What is the spending variance for maintenance expense? Multiple Choice $136 F $136 U $176 U Nex 11 of 23 < Prev
307 budget and a static budget is true? budget is prepared for performance evaluation. b. a static budget provides costs for one level of activity. a. C. only fixed costs. techniques, the planned cost column should be based on the b. Actual amount for the same period in the preceding year. c. Budget adjusted to the actual level of activity for the period being reported. d. Budget adjusted to the planned level of activity for the períod being reported, (ста) 149.The use of standard of costs in the budgeting process signifies that an organization has most likely implemented a Flexible budget. b. Capital budget. Static budget. d. Strategic budget. a. с. (cma) 150. When a flexible budget is used, an increase in production levels within a relevance range would a. Not change fixed costs per unit. b. Change total fixed costs. Not change variable costs per unit. d. Not change total variable costs. C. (aicpa)
Assume that a company's budgeted revenue per unit is $50. The company's planned level of activity was 2,000 units and its actual level of activity was 2,200 units. Its actual revenue was $103,800. The company's revenue variance is: Multiple Choice $6,200 U. $6,200 F. $4,200 F. $4,200 U.

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