Multiple Choice Questions Please help 26 A formal written statement of management's plans for the future, expressed in financial terms, is a a gross profit report b responsibility report c budget d performance report 27 The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows Standard Costs Direct materials 2,500 kilograms $8 Actual Costs Direct materials 2,600 kilograms $8 75 The amount of the direct materials quantity variance is a $875 favorable b $800 unfavorable c $800 favorable d $875 unfavorable 28 JSW Co has an operating leverage of 4 Sales are expected to increase by 8 next year Operating income is a unaffected b expected to increase by 2 c expected to increase by 32 d expected to increase by 4 times 29 Standards that represent levels of operation that can be attained with reasonable effort are called a theoretical standards b ideal standards c variable standards d normal standards 30 The three most common cost behavior classifications are a variable costs, product costs, and sunk costs b fixed costs, variable costs, and mixed costs c variable costs, period costs, and differential costs d variable costs, sunk costs, and opportunity costs

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Multiple Choice Questions  Please help       26  A formal written statement of management's plans for the future, expressed in financial terms, is a  a  gross profit report b  responsibility report c  budget d  performance report      27  The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows  Standard Costs Direct materials 2,500 kilograms   $8 Actual Costs Direct materials 2,600 kilograms   $8 75 The amount of the direct materials quantity variance is  a  $875 favorable b  $800 unfavorable c  $800 favorable d  $875 unfavorable      28  JSW Co  has an operating leverage of 4  Sales are expected to increase by 8  next year  Operating income is  a  unaffected b  expected to increase by 2  c  expected to increase by 32  d  expected to increase by 4 times      29  Standards that represent levels of operation that can be attained with reasonable effort are called  a  theoretical standards b  ideal standards c  variable standards d  normal standards      30  The three most common cost behavior classifications are  a  variable costs, product costs, and sunk costs b  fixed costs, variable costs, and mixed costs c  variable costs, period costs, and differential costs d  variable costs, sunk costs, and opportunity costs

Accepted Answer

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a.	unaffected
b.	expected to increase by 2%
c.	expected to increase by 32%
d.	expected to increase by 4 times

Question

Multiple Choice Questions. Please help. ____ 26. A formal written statement of management's plans for the future, expressed in financial terms, is a: a. gross

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a.	gross profit report
b.	responsibility report
c.	budget
d.	performance report

Standard Costs
Direct materials	2,500 kilograms @ $8


Actual Costs
Direct materials	2,600 kilograms @ $8.75

a.	$875 favorable
b.	$800 unfavorable
c.	$800 favorable
d.	$875 unfavorable

a.	theoretical standards
b.	ideal standards
c.	variable standards
d.	normal standards

a.	variable costs, product costs, and sunk costs
b.	fixed costs, variable costs, and mixed costs
c.	variable costs, period costs, and differential costs
d.	variable costs, sunk costs, and opportunity costs