1.Which one of the following statements is true concerning a flexible budget?

It is prepared once the actual activity level is determined.

It is relevant both within and outside the relevant range.

It replaces a master budget.

its one of the financial budget

2.The direct materials quantity standard should

exclude unavoidable waste.

exclude quality considerations.

allow for normal spoilage.

always be expressed as an ideal standard.

3.

An unfavourable materials quantity variance would occur if

more materials are purchased than are used.

actual kilograms of materials used were less than the standard kilograms allowed.

actual labour hours used were greater than the standard labour hours allowed.

actual kilograms of materials used were greater than the standard kilograms allowed.

4.

A company developed the following per-unit standards for its product: 5 kilograms of direct materials at $3.30 per kilogram. Last month, 1000 kilograms of direct materials were purchased for $2950. Also last month, 660 kilograms of direct materials were used to produce 134 units. What was the direct materials price variance at the time of purchase?

$14540 favourable

$350 favourable

$14540 unfavourable

$350 unfavourable

5.

The investigation of a materials price variance usually begins in the

first production department.

purchasing department.

controller's office.

accounts payable department.

6.