Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help me all questions! i appreciate your help!!! thank you! Question 1 When you want to review what was budgeted and what was actually

please help me all questions! i appreciate your help!!! thank you!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 1 When you want to review what was budgeted and what was actually spent this is called Variance Analysis. True False Question 2 To calculate the percentage variance of a line item, the calculation is: Actual - Budget O $ Variance Amount / Budget Budget / Actual O Variance Amount Budget Amount Question 3 When you compare every line item against revenue, this is known as Horizontal Analysis Budget Analysis No answer text provided, Vertical Analysis Dollar Analysis Question 4 When you want to compare variances of one year against several years, this is known as: Trend Analysis Forecasting Analysis Simplified Analysis GAAP Analysis > Question 5 When conducting a vertical analysis on a Balance Sheet this is used as the base number that every line item is divided by: Accounts Receivable oluntory Ats Question 6 If you have a total budget of $500,000 and the actuals come in at 5510,000, is that favorable or unfavorable? Favorable Unfavorable No answer text provided No answer text provided Question 7 Vertical and Horizontal Variance Analysis can be used on the Balance Sheet and Income Statement. O Trum O False Question 8 If I conducted a vertical variance analysis on an income Statement and the results for Technology was 9%, what does that mean? O The company exceeded the budget for Technology by 9% % of the company's spending is on Technology More should be spent on Technology Technology is under budget Question 9 - The calculation to determine the dollar variance is Variance Amount - Budget. O True False Question 10 2 pts Escaining the chart below, what could be a posible explanation for the TOTAL vance! Category Butteet Amount Actus Amount W $200,000 $220.000 $10.000 50.00 Training 515,000 315.000 $1.000 TOTAL $220.000 $235.100 s Variance 520 000 $10.000 50.00 3900 59.100 5100 www.100 c510.000 Otherhoog

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: E. Thomas Garman, Raymond Forgue

8th Edition

0618471421, 9780618471423

More Books

Students also viewed these Finance questions