A) the resources needed by a company B) the preparation of budgets by function C) the attainment of long-range goals D) activities and their consumption of resources E) None of the above 8) Christian Company reported a flexible budget variance for direct materials costs of $10,000 Favorable for the current year. If the direct materials price variance was $2,000 Favorable, what was the direct materials quantity variance? A) $8,000 Unfavorable B) $8,000 Favorable C) $12,000 Favorable D) $12,000 Unfavorable E) Cannot be calculated without standard cost. 9) A company has the following information available about one of its products Standard price per pound of input Actual price per pound of input Standard inputs per unit of output Actual units of output Direct Materials Quantity Variance $25 $24 3 pounds 2.770 5250 F How many pounds of material were actually used (round up to whole number from decimal)? A) 8,300 lb B) 8,310 lb C) 8,320 lb D) 8,330 lb E) Cannot be calculated based on the above data 10) The following information is for Brankov Corporation: Direct Materials (measured in pounds) Standard price per unit of input $20 Actual price per unit of input Standard inputs per unit of output 3 pounds Actual units of input 8,300 pounds 2,770 units Actual units of output 297 ounits . $10 What is the overall net variance for direct materials? A) $16,400 Favorable B) $16,400 Unfavorable $16,800 Favorable D) $16,800 Unfavorable E) My calculation is - 11) Rate variances are the same as variances. Efficiency variances are the same as variances A) I don't know the answer. B) spending: effective C) activity; static