Question 8 3 pts Lydia Company planned to produce 12,000 units. Processing required 16,000 machine hours at a cost of $43,000+ $12 per machine hour. Actual sales were 15,000 units requiring 20,000 machine hours. Actual processing cost was $253,000. __ is the flexible-budget variance for processing. $18,000 favorable $30,000 unfavorable $30,000 favorable $18,000 unfavorable Question 9 3 pts Lydia Company planned to produce 12,000 units. Processing required 16,000 machine hours at a cost of $43,000+ $12 per machine hour. Actual sales were 15,000 units requiring 20,000 machine hours. Actual processing cost was $253,000. _ is the static-budget variance for processing. $18,000 favorable $30,000 unfavorable $30,000 favorable $18,000 unfavorable Question 10 2 pts Identify which statement below would not be a possible reason for a variance between a flexible budget and actual results. The actual volume of activity was different than expected The amount of labor used per unit of output was different than expected Labor prices were different than expected Material prices were different than expected Question 11 2 pts Flexible budgets help to measure the o efficiency of operations at the actual activity level reasons why projected activity levels were not attained differences between projected and actual activity levels amount by which standard quantity and expected prices differ Question 12 2 pts A standard cost is a unit cost that the company attained for the most recently completed period is the average cost for the industry should never be revised should be attained Question 15 3 pts You can receive $10,000 today or $2.500 per year for the next five years. If the required rate of return is 10%, what option should be selected? (The present value of an ordinary annuity at 10% for five periods is 3.7908. The present value of one at 10% for five periods is 0.6209.) Receive $10,000 today Receive $2,500 per year for the next five years. The results are the same for both options. Neither option is desirable. Question 16 2 pts The two main components of the master budget are the cash budget and the capital budget purchases budget and the budgeted income statement budgeted income statement and the budgeted balance sheet operating budget and the financial budget Question 17 3 pts Juno Company's revenues are $500 and invested capital is $400. Expenses are currently 60% of sales. Juno Company's current return on investment is 50% None of these answers is correct 100% 80% Question 18 3 pts Maitland Company's revenues are $500 on invested capital of $300. Expenses are currently 70% of sales. If Kitchen Company can reduce its invested capital by 20%, return on investment will be __. 63.5% 2.5% 50% 75% Question 32 3 pts Maxie Company is creating their budget for the following year. Here is their relevant information: Expected Sales 1,000 units per month Sales Price $15 per unit Variable Labor costs $3 per unit Variable Material costs $2 per unit Fixed Costs $6,000 per month In the first month of the new year, Maxie Company only produced and sold 800 units. What is their flexible budget operating income? $4,000 $8,000 $2,000 $0 Question 33 3 pts Maxie Company is creating their budget for the following year. Here is their relevant information: Expected Sales 1,000 units per month Sales Price $15 per unit Variable Labor costs $3 per unit Variable Material costs $2 per unit Fixed Costs $6,000 per month In the first month of the new year, Maxie Company's operating income was $2,000. What is their static budget operating income variance? $2,000 Unfavorable $2,000 Favorable $4,000 Favorable $4,000 Unfavorable