Question 1 2 pts Justin Bieber produces and sells special microphones. For the fourth quarter of 2020, he expects to produce and sell 41,000 microphones. He expects total revenues of $1,063,000 which are all variable, and total expenses of $776,000, $100,000 of which is xed with the rest variable. If Justin Bieber ends up actually producing and selling 39,000 microphones during the fourth quarter, what is the exible budget NOI? Round your answer to the nearest cent. Question 2 2 pts Big Watches Co. manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During October, the company budgeted for 5000 units, but its actual level of activity was 4700 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for October: Fixed Element per Variable Element per A t l R Its Month Month C ua esu Revenue 48.50 245,060 Manufacturing Overhead 4.15 52,870 What is MOH in the planning budget for October? Round your answer to the nearest whole number. Question 3 2 pts Big Watches Co. manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During October, the company budgeted for 5000 units, but its actual level of activity was 4-700 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for October: Fixed Element per Variable Element per Actual Results Month Month Revenue 48.50 245,060 Manufacturing Overhead 4.15 52,870 What is direct labor in the exible budget for October? Round your answer to the nearest whole number. Question 4 2 pts Big Watches Co. manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During October, the company budgeted for 5000 units, but its actual level of activity was 4700 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for October: Fixed Element per Variable Element per Month Actual Results Revenue 48.50 245,060 Direct Labor 7.50 39,480 Direct Materials 20.10 104,205 Manufacturing 4.15 52,870 Overhead 5&A Expenses . 32,520 What is the activity variance for S&A expenses in October? Round to the nearest whole number. If the variance is Favorable, enter a positive value. If unfavorable, enter a negative value. Question 5 2 pts Big Watches Co. manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During October, the company budgeted for 5000 units, but its actual level of activity was 4700 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for October: Fixed Element per Variable Element per A t l R Its Month Month c ua esu Revenue 48.50 245,060 Manufacturing Overhead 4.15 52,870 Assuming all direct materials numbers relate solely to this period, what is the spending variance for direct materials in October? Round to the nearest whole number. If the variance is Favorable, enter a positive value. If unfavorable, enter a negative value. Question 6 1 pts Match the term with its corresponding definition. A budget developed at the beginning of [ Choose ] V a period that anticipates costs and revenues for a particular level of output A budget that adjusts the planning budget to reflect the actual quantity of [ Choose ] V output The difference between the planning [ Choose ] V budget and the flexible budget Actual revenue minus the expected [ Choose ] V revenue given actual quantity sold The difference between an actual cost V [ Choose ] and the cost from the flexible budget Activity Variance Variable Budget Flexible Budget Planning Budget Cost Variance Previous Spending Variance Next Control Budget Revenue Variance Variable VarianceQuestion 7 2 pts Fill in the blanks with the variances and whether they are favorable or unfavorable. Format your answers with the number and capitalized F/U with no space in between (ex: 200.5F). Do not enter a dollar sign. Enter 0 if there is no variance. Actual Spending Variance Flexible Activity Variance Budgeted Units 285 0 285 35 250 Revenues 6,450 6,697.5 5,875 Direct Labor 2,700 2,707.5 2,375 Direct 790 769.5 675 Materials Manufacturing 1,060 1,197 1,050 Overhead S&A Expenses 171 171 150 Income 1,729 1,852.5 1,625For questions 8, 9, and 10, please note your unit totals and costs are randomized and will differ by problem. Only solve for the quantity you are asked for to avoid unnecessary work. Question 8 2 pts Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3100 jackets, and he expects his June utilities cost to be $8,000 plus $0.70 per jacket. After the month ended, it was reported that 3010 jackets were sold in June and $10,190 was spent on utilities. What is the planning budget for utilities in June? Round your answer to the nearest whole number.Question 9 2 pts Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3200 jackets, and he expects his June utilities cost to be $8,000 plus $0.60 per jacket. After the month ended, it was reported that 3000 jackets were sold in June and $10,190 was spent on utilities. What is the activity variance for utilities in June? Round to the nearest whole number. If the variance is Favorable, enter a positive value. If unfavorable, enter a negative value.Question 10 2 pts Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3200 jackets, and he expects his June utilities cost to be $8,000 plus $0.50 per jacket. After the month ended, it was reported that 2920 jackets were sold in June and $10,190 was spent on utilities. What is the spending variance for utilities in June? Round to the nearest whole number. If the variance is Favorable, enter a positive value. If unfavorable, enter a negative value.Question 11 1 pts Which of the following is true? O Variances are classified according to the impact on revenue O Assume all costs are variable when creating a flexible budget O Assume all costs are fixed when creating a flexible budget O There can only be one cost driver O Unfavorable activity variances for costs will typically accompany a favorable activity variance for revenue. O None of the other available answers are trueQuestion 12 1 pts KuoKuts manufactures and sells one product. In August, they expected to sell 1,950 units but ended up selling 2,010 units. The variable element per unit for direct materials, direct labor, and 5&A expenses was expected to be $4.50, $9, and $.60 respectively. The xed element per month for direct labor and 5&A expenses was expected to be $3,000 and $1,500 respectively. In August, the actual totals for direct materials, direct labor, and S&A expenses were $9100, $21400, and $2800 respectively. What is the spending variance for 5&A expenses? 0 menu 0 36U 0 94o O 1,594U O 1,17ou 0 2,300u Question 13 2 pts Fill in the blanks and mark whether it is favorable or unfavorable when applicable (ex: 4500 or 60F). Assume Revenues, Direct Labor, Direct Materials are variable. Assume Manufacturing Overhead and Selling & Administrative Expenses are fixed. Materials 630 585