please answer the question attached to the document

19) When a company is preparing a budgeted statement of cash flows, the payments for selling and administrative expenses can be obtained from the ________. A) budgeted payments for direct materials purchases B) sales budget C) cash budget D) budgeted balance sheet 20) A company has prepared the operating budget, the cash budget, and the budgeted income statement and is now preparing the budgeted balance sheet. The balance of Retained Earnings can be taken from the ________. A) inventory, purchases, and cost of goods sold budget B) operating budget C) cash budget D) budgeted income statement and the balance sheet of the previous year 21) Kevin Couriers Company prepared the following static budget for the year: Static Budget Units/Volume Sales Revenue Variable Costs Contribution Margin Fixed Costs Operating Income/(Loss) 5,000 Per Unit $7.00 1.00 $35,000 5,000 30,000 3,000 $27,000 If a flexible budget is prepared at a volume of 7,800, calculate the amount of operating income. The production level is within the relevant range. A) $43,800 B) $27,000 C) $7,800 D) $3,000 22) Underwater Sports Equipment Company projected sales of 79,000 units at a unit sales price of $12 for the year. Actual sales for the year were 75,000 units at $14 per unit. Variable costs were budgeted at $3 per unit, and the actual amount was $5 per unit. Budgeted fixed costs totaled $387,000, while actual fixed costs amounted to $450,000. What is the flexible budget variance for variable costs? A) $158,000 unfavorable B) $150,000 unfavorable C) $150,000 favorable D) $158,000 favorable 23) Which of the following best describes a standard? A) a sales price, cost, or quantity that is expected under normal conditions B) costs incurred to produce a product C) budgeted amount for total product cost D) actual sales price, cost, or quantity 24) A company is setting its direct materials and direct labor standards for its leading product. Direct materials cost from the supplier are $9 per square foot, net of purchase discount. Freightin amounts to $0.40 per square foot. Basic wages of the assembly line personnel are $14 per hour. Payroll taxes are approximately 21% of wages. Benefits amount to $2 per hour. How much is the direct materials cost standard per square foot? A) $9.40 B) $9.00 C) $16.00 D) $25.00 25) Emerald Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Emerald uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: Direct materials: 4 pounds per unit; $6 per pound Direct labor: 2 hours per unit; $17 per hour During the first quarter, Emerald produced 4,000 units of this product. Actual direct materials and direct labor costs were $65,000 and $329,000, respectively. For the purpose of preparing the flexible budget, calculate the total standard direct materials cost at a production volume of 4,000 units. A) $96,000 B) $65,000 C) $16,000 D) $24,000 26) What does a favorable direct materials cost variance indicate? A) The actual quantity of direct materials used was less than the standard quantity. B) The actual cost of direct materials purchased was less than the standard cost of direct materials purchased. C) The actual cost of direct materials purchased was greater than the standard cost of direct materials purchased. D) The actual quantity of direct materials used was greater than the standard quantity. 27) Discount Sales Company uses a standard cost system. Variable overhead costs are allocated based on direct labor hours. In the first quarter, Discount Sales had a favorable cost variance for variable overhead costs. Which of the following scenarios is a reasonable explanation for this variance? A) The actual number of direct labor hours was lower than the budgeted hours. B) The actual variable overhead costs were higher than the budgeted costs. C) The actual variable overhead costs were lower than the budgeted costs. D) The actual number of direct labor hours was higher than the budgeted hours. 28) Zenith Fashions uses standard costs for their manufacturing division. From the following data, calculate the fixed overhead cost variance. Actual fixed overhead $32,000 Budgeted fixed overhead $24,000 Standard overhead allocation rate $8 Standard direct labor hours per unit 3 DLHr Actual output 2,500 units A) $36,000 F B) $36,000 U C) $8,000 F D) $8,000 U 29) Which of the following is not a flexible budget variance? A) total fixed overhead variance B) total variable overhead variance C) total direct materials variance D) total direct labor variance 30) The management of Chung Fire Alarms has calculated the following variances: Direct materials cost variance$8,000 U Direct materials efficiency variance 40,000 F Direct labor cost variance 15,000 F Direct labor efficiency variance 13,500 U Total variable overhead variance 8,500 F Total fixed overhead variance3,500 F What is the total direct labor variance of the company? A) $15,000 F B) $12,000 F C) $28,500 F D) $1,500 F Short answer problems 5 pts. each 31) Complete the statement, using the following terms: increase, decrease, or have no effect on. Increases in total fixed cost ________ contribution margin per unit and ________ the breakeven point. 32) List the three sections of the cash budget. 33) List the direct materials variances, and briefly describe each. 34) The following information relates to Regency Manufacturing's overhead costs for the month: Static budget variable overhead $14,200 Static budget fixed overhead $5,600 Static budget direct labor hours 1,000 hours Static budget number of units 5,000 units Regency allocates manufacturing overhead to production based on standard direct labor hours. Regency reported the following actual results for last month: actual variable overhead, $14,500; actual fixed overhead, $5,400; actual production of 4,700 units at 0.22 direct labor hours per unit. The standard direct labor time is 0.20 direct labor hours per unit. Compute the variable overhead cost variance. (Round the answer to the nearest dollar.)