1Unit contribution margin represents a part of unit price that may cover the fixed cost

Select one:

True

False

2

Unit variable cost remains constant irrespective of the volume size of the production.

Select one:

True

False

One of the following is not an advantage of budgeting

Define the objectives

Plan for the future

Discommunicate plans to the executives

Coordinate the activities

4Process costing is a method used in situations where essentially homogenous products are processed on continuous basis

Select one:

True

False

5If beginning inventory balance=1000$,purchases units cost=100$,cost of sales amounting 500 is =300$,the ending cost balance

$600

6Work-in-process are the units that are only partially completed and require further work before being ready for sale.

Select one:

True

False

$800

$1200

$1600

7

The budget must cover one year in average

Select one:

True

False

In case predetermined overhead exceeds the actual overheads, the situation includes under applied overheads.

Select one:

True

False