Accounting Medium The difference between actual input variance and the budgeted input variance is called __________? A price variance ✓ B actual output price ✓ C budgeted output price ✓ D actual selling price ✓ AK Ali Khan 4 months ago
Accounting Medium An efficiency variance is 200 units and the actual input quantity is 500 units, then the budgeted input quantity will be __________? A 300 units ✓ B 700 units ✓ C 800 units ✓ D 500 units ✓ AK Ali Khan 4 months ago
Accounting Medium The performance is evaluated only on the basis of price variance, if the performance evaluation is __________? A positive ✓ B negative ✓ C zero ✓ D one ✓ AK Ali Khan 4 months ago
Accounting Medium The budget which is planned around a single output level is called _________? A marketing budget ✓ B methodological budget ✓ C static budget ✓ D varied budget ✓ AK Ali Khan 4 months ago
Accounting Medium The actual price of material is less than budgeted price, this means that _________? A price variance is favorable ✓ B price variance is unfavorable ✓ C cost variance is favorable ✓ D cost variance is unfavorable ✓ AK Ali Khan 4 months ago
Accounting Medium If the flexible budget variance is $95000 and an actual cost is $40000, then the flexible budget cost would be __________? A $135,000 ✓ B $45,000 ✓ C $50,000 ✓ D $55,000 ✓ AK Ali Khan 4 months ago
Accounting Medium In cost accounting, the goal of variance analysis is to ___________? A understand variance reason ✓ B improve future performance ✓ C learning of improvement ✓ D all of above ✓ AK Ali Khan 4 months ago
Accounting Medium In management control, an efficiency variance is also referred as __________? A control variance ✓ B uncontrolled variance ✓ C usage variance ✓ D effective variance ✓ AK Ali Khan 4 months ago
Accounting Medium If the budgeted price of input is $70, actual quantity of input is 250 units and the allowed budgeted quantity of input is 90 units, then efficiency variance will be ___________? A $23,800 ✓ B $11,200 ✓ C $12,200 ✓ D $13,200 ✓ AK Ali Khan 4 months ago
Accounting Medium The static budget amount is subtracted from the actual result to calculate ______________? A static budget receipts ✓ B static budget deviation ✓ C static budget variance ✓ D multiple budget variance ✓ AK Ali Khan 4 months ago