Question 1

The flexible budget variance is the difference between the actual results and the expected results in the flexible budget for the actual units sold.

Accepted Answer

A) True 
 B)False

Question 2

A favorable direct materials cost variance occurs when the actual direct materials cost incurred is less than the standard direct materials cost.

Accepted Answer

A) True 
 B)False

Question 3

The sales volume variance is the difference between the ________.

Accepted Answer

A)   actual results and the expected results in the flexible budget for the actual units sold
B)   expected results in the flexible budget for the actual units sold and the static budget
C)   static budget and actual amounts due to differences in sales price
D)   flexible budget and static budget due to differences in fixed costsE) B) and D)
F) A) and B)

Exam 6: Flexible Budgets and Standard Cost Systems

The sales volume variance is the difference between the ________.

Correct Answer
verified

A favorable direct materials cost variance occurs when the actual direct materials cost incurred is less than the standard direct materials cost.

Correct Answer
verified

The flexible budget variance is the difference between the actual results and the expected results in the flexible budget for the actual units sold.

Correct Answer
verified

Exam 6: Flexible Budgets and Standard Cost Systems

The sales volume variance is the difference between the ________.

Correct AnswerverifiedShow Answer

A favorable direct materials cost variance occurs when the actual direct materials cost incurred is less than the standard direct materials cost.

Correct AnswerverifiedShow Answer

The flexible budget variance is the difference between the actual results and the expected results in the flexible budget for the actual units sold.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified