The relative amount of inputs used to reach a given level output is a measure of which of the following?

Question 2 options:

marketing efforts

effectiveness

efficiency

selling price

Question 3 (0.33333333 points)

The fixed overhead flexible budget variance is the same as the fixed overhead static budget variance.

Question 3 options:

True

False

Question 4 (0.33333333 points)

The difference between budgeted fixed manufacturing overhead and the fixed manufacturing overhead allocated to actual output units achieved is called

Question 4 options:

a flexible-budget variance.

a production-volume overhead variance.

an efficiency variance.

a manufacturing overhead flexible-budget variance.

Question 5 (0.333333 points)

All Good Things Ltd. planned on producing 600 units for the year. However, actual production was 400 units.

Information concerning the direct labour cost for All Good Things Ltd. is as follows: actual results 1,000 hours at $25 per hour; static budget amounts were 1,200 hours at $21 per hour.

What is the All Good Things Ltd. static-budget variance?

Question 5 options:

$200 F

$600 F

$400 F

$400 U

Question 6 (0.33333333 points)

In a firm's value chain downstream costs are categorized as

Question 6 options:

customer service costs.

production costs.

design costs

Question 7 (0.33333333 points)

The Canada Revenue Agency requires companies to use practical capacity as the denominator-level concept.

Question 7 options:

Not enough information to answer the question

FALSE

TRUE

Question 8 (0.33333333 points)

Which of the following is likely to be related to an unfavorable direct materials rate variance?

Question 8 options:

Materials were purchased based on a competitive bid.

the negotiating skills of the marketing manager

unexpected price decreases in direct materials

Standard costs were determined correctly.

Question 9 (0.33333333 points)

General Media manufactures cassettes and CDs in separate divisions utilizing one plant location. The following data have been prepared for review.

Fixed operation costs

$900,000

Practical capacity

2,500 hours

Budgeted usage:

Cassette Division

2,000 hours

CD Division

350 hours

Budgeted variable cost per hour

$400 per hour

What is the fixed cost per year and the variable cost per hour, respectively, for the General Media Cassette Division using the dual-rate method, assuming that the allocation bases are capacity for fixed costs and budgeted capacity for variable costs?

Question 9 options:

$765,958 rounded and $360

$720,000 and $400

$765,958 rounded and $400

$720,000 and $360

Question 10 (0.33333333 points)

Which of the following variances exists only under absorption costing?

Question 10 options:

production-volume variance

sales-volume variance

spending variance

efficiency variances

Question 11 (0.33333333 points)

Full product costing requires the recovery of all costs generated by all business functions in the value chain.

Question 11 options:

FALSE

Not enough information available to make any choice

TRUE

Question 12 (0.33333333 points)

Actual overhead is $700,000, while budgeted overhead is $598,000. What is the fixed overhead static-budget variance if 250,000 units are produced and 225,000 are budgeted?

Question 12 options:

$100,000 unfavourable

$102,000 unfavourable

$110,000 unfavourable

$80,000 favourable

Question 13 (0.33333333 points)

When the actual output is more than expected and the volume is unusually high then the production volume variance is

Question 13 options:

favourable and should be applied to inventory.

unfavourable and should be prorated to work-in-process inventory, finished goods inventory, and cost of goods sold.

unfavourable and should be charged to cost of goods sold.

unfavourable and should be applied to inventory.

Question 14 (0.33333333 points)

________ is the level of capacity based on producing at full capacity all the time.

Question 14 options:

Practical capacity

Demand capacity

Theoretical capacity

Normal capacity

Question 15 (0.3333333 points)

What is the All Good Things Ltd. flexible-budget variance?

Question 15 options:

$200 U

$8,400 F

$8,200 U

$8,200 F

What is the All Good Things Ltd. flexible-budget variance?

Question 15 options:

$200 U

$8,400 F

$8,200 U

$8,200 F