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1. A revenue variance is favorable if the revenue in the static planning budget exceeds the revenue in the flexible budget. True False 2. A materials price variance is favorable if the actual price exceeds the standard price. True False 3. Which of the following do managers most frequently use as a system to identify deviations in conjunction with the variance analysis cycle? Traceable fixed costs. Management by exception. Incremental analysis. Variable expense ratio. 4. All of the statements are correct except: more than one cost driver might be needed to adequately explain all of the costs in an organization. flexible budget preparation is limited to two cost drivers. cost formulas based on more than one cost driver are more accurate than the cost formulas based on just one cost driver. when cost formulas are based on more than one cost driver, the variances will also be more accurate.
on january 25 coot company has 430000 deposited with a local bank. on january 27 the company writes and mails checks of
during february the firm started production of 75000 chairs. during the month the firm completed 80000 chairs and
Lee needs money and therefore sells the note to Chicago National Bank, which demands interest on the note of 10% compounded semiannually. What is the amount Lee will receive on the sale of the note?
managerial acct 2 ulrich framing is well known for the quality of its picture framing. lucinda ulrich ceo believes that
nielson corp. sells its product for 8800 per unit. variable costs per unit are manufacturing 4800 and selling and
prepare the adjusting journal entries needed if any on december 31 2013. ajes are only prepared at year end december
On August 31, a 10% stock dividend was declared and distributed. What is the balance in Common Stock appearing on the statement of stockholders' equity on December 31?
the chief executive of a clothes manufacturer charged with committing financial fraud was dismayed that the controller
Becker Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be reported on Becker's statement of cash flows?
Prego Company exchanged 11,880 of its $20 par value common shares with a fair value of $50 per share for 90% of the outstanding common shares of Sprague Company. The transaction is a purchase.
Which two components of internal control must management assess when reporting on internal control to comply with Section 404 of SOX?
Which financial statement should be studied most closely to determine if a company has the ability to pay a significant debt?
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