11. A budget plan prepared in ~ a solitary volume of task is described as a: A. Strategic budget.B. Static budget.C. Standard budget.D. Flexible budget.
You are watching: A budget prepared at a single volume of activity is referred to as a:
12. Select the incorrect statement regarding flexible budgets. A. Standard prices and costs are supplied in preparing a functional budget.B. A flexible spending plan is also known together a master budget.C. Flexible budgets present the approximated revenues and costs in ~ multiple volume levels.D. A flexible spending plan represents an expansion of the grasp budget.
13. Which that the complying with income statement formats is most commonly used with flexible budgeting? A. Sales - manufacturing expenses - selling and administrative costs = net incomeB. Sales - expense of products sold = gross margin - operating prices = net incomeC. Sales - variable prices = contribution margin - fixed costs = network incomeD. None of the various other answers are correct.
14. Starlight Company's static budget is based on a planned task level that 35,000 units. In ~ the same time the static budget was prepared, the monitoring accountant all set two additional budgets, one based upon 30,000 units and one based on 40,000. The firm actually produced and also sold 39,000 units. In evaluating its performance, administration should to compare the company's really revenues and costs to which of the following budgets? A. A budget based on 39,000 unitsB. A budget based on 35,000 unitsC. A budget based on 40,000 unitsD. A budget based upon 30,000 units
15. Johansson agency developed the following static spending plan at the beginning of the company's audit period:
16. Static and flexible budgets are similar in that: A. They both are prepared for multiple task levels.B. They both concentrate solely on costs.C. They both are based upon the same per unit variable amounts and the exact same fixed costs.D. None that the other answers room correct.
17. Which of the complying with software applications is many suited for emerging flexible budgets? A. DatabaseB. GraphicsC. SpreadsheetD. Word processing
18. Butler firm developed a static spending plan at the start of the company's accounting duration based ~ above an supposed volume of 4,000 units:
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19. When would a variance be labeled together favorable? A. When standard prices are equal to yes, really costsB. When standard prices are less than yes, really costsC. When expected sales are better than actual salesD. When actual costs are less than traditional costs
20. When would a variance it is in labeled as unfavorable? A. When standard expenses are much more than yes, really costsB. When meant sales are more than yes, really salesC. When really sales are equal to meant salesD. None that the other answers are correct.