Exam (elaborations)
AC-642 Exam 2 Questions And Answers Latest Update
- Course
- AC642
- Institution
- Boston University
AC-642 Exam 2 Questions And Answers Latest Update
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Solution 2024/2025Pepper
AC-642 Exam 2 Questions And Answers Latest
Update
flexible budget variances
Comparing budgeted costs for the actual level of activity with actual costs
for the same level generates
myopic behavior
The actions taken by a manager that improve budgetary performance in the
short run but bring long-run harm to the firm are due to his or her
continuous budget
A moving 12-month budget is referred to as a
Budgetary slack
The manager of the Assembly Department of Cleve's Clocks deliberately
overestimates what the costs in his department will be. What is this an
example of?
Production budget
Which of the following describes how many units must be produced to
satisfy ending inventory requirements and meet sales needs?
Dysfunctional behavior
individual behavior that is in basic conflict with the goals of an organization
variable budget
A flexible budget is sometimes referred to as a
Marketing expense budget
Which budget outlines planned expenditures for selling and distribution
activities?
, Solution 2024/2025
Pepper
Operating budgets are concerned with
the income-generating activities of a firm.
Financial budgets are concerned with
inflows and outflows of cash.
It represents the culmination of the financial events of the coming year and
shows management where the company is expected to be at the end of the
year.
Which of the following statements is true of the budgeted balance sheet for
the coming year?
financing section
The section of the cash budget that consists of borrowings and repayments
is called the
Direct labor rate variance = (Actual hourly wage rate - Standard hourly
wage rate) × Actual direct labor hours used
Which of the following is the correct mathematical representation of direct
labor rate variance (LRV)?
Standard price of direct labor
Which of the following items does a standard cost sheet include?
They can be achieved under efficient operating conditions.
Which of the following statements is true regarding currently attainable
standards?
Standard hours allowed (SH) = Unit labor standard × Actual output
Callison, a manager in a manufacturing facility, wants to calculate the
standard hours allowed (SH). What equation should he use?
Which of the following specifies how much, per unit of output, of the input
should be used?
Quantity standards
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