A budget that is based on the actual activity of a period is known as a: Multiple Choice O master budget. continuous budget flexible budget. static budget Herrod Catering uses two measures of activity.jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $500 per month plus $110 per job plus $30 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in December to be 20 jobs and 130 meals, but the actual activity was 14 jobs and 113 meals. The actual cost for catering supplies in December was $5.950. The spending variance for catering supplies in December would be closest to: Multiple Choice $650 U O $520 U O $520 F $650 F The BRS Corporation makes collections on sales according to the following schedule: 50% in month of sale 47% in month following sale 3% in second month following sale The following sales have been budgeted: April May June Sales $200,000 $170,000 $160,000 Budgeted cash collections in June would be: Multiple Choice $160.000 $159.900 $160.600 $165,900 The following are budgeted data: Sales in units Production in units January 15,300 18,300 February 20,600 19,300 March 18,300 17,200 One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs. Purchases of raw materials for February would be budgeted to be: Multiple Choice O 19,720 pounds O 18,420 pounds 18,880 pounds 19,980 pounds