The actual operating income for our company for the current year was $97,000. The flexible budgeted operating income for actual sales volume was $95,000, and the static budget for operating income was $96,000.

What is thestatic budget variancefor operating income on the Flexible Budget Performance Report?

$2,000 favorable

$2,000 unfavorable

$1,000 favorable

$1,000 unfavorable

2. The actual operating income for our company for the current year was $97,000. The flexible budgeted operating income for actual sales volume was $95,000, and the static budget for operating income was $96,000.

What is thesales volume variancefor operating income on the Flexible Budget Performance Report?

Group of answer choices

$2,000 favorable

$2,000 unfavorable

$1,000 favorable

$1,000 unfavorable

3.Amanager who is responsible for generating revenue and controlling costsismost likely the manager of:

Group of answer choices

a cost center

a revenue center

a profit center

an investment center

4.Responsibility reports for a profit center include:

Group of answer choices

revenue only

costs only

both revenue and expenses

invested capital

5.The following information is available for our company for the current year:

• operating income, $45,000;
• average total assets, $400,000;
• net sales, $900,000; and
• required rate of return, 12%.

Calculate the return on investment (ROI) rounded totwo decimal places.

Group of answer choices

4.44%

5.00%

8.89%

11.25%

6.The following information is available for our company for the current year:

• operating income, $45,000;
• average total assets, $400,000;
• net sales, $900,000; and
• required rate of return, 12%.

Calculate the profit margin to two decimal places.

Group of answer choices

4.44%

5.00%

8.89%

11.25%

7.The following information is available for our company for the current year:

• operating income, $45,000;
• average total assets, $400,000;
• net sales, $900,000; and
• required rate of return, 12%.

Calculate the asset turnover totwo decimal places.

Group of answer choices

2.25 times

4.44 times

5.00 times

8.89 times

8.The following information is available for our company for the current year:

• operating income, $45,000;
• average total assets, $400,000;
• net sales, $900,000; and
• required rate of return, 12%.

Calculateresidual income.

Group of answer choices

($3,000)

$3,000

$45,000

$48,000