ANSER TRUE OR FALSE _____ 3. Both variable and fixed manufacturing overhead cost

Question

ANSER TRUE OR FALSE

_____ 3. Both variable and fixed manufacturing overhead costs are included in the manufacturing overhead budget.

_____ 4. If activity is higher than expected, total variable costs should be higher than expected. If activity is lower than expected, total variable costs should be lower than expected.

_____ 5. A revenue variance is favorable if the revenue in the static planning budget exceeds the revenue in the flexible budget.

_____ 6. A spending variance is the difference between how much a cost should have been, given the actual level of activity, and the actual amount of the cost for the period. MULTIPLE CHOICE

_____ 7. Which of the following represents the correct order in which the indicated budget documents for a manufacturing company would be prepared?

Explanation / Answer

3)True
4)True
5)False. and it should be otherwise as revenue in flexible budget exceeds the revenue in static planning budget
6)True
7)There is no multiple choice option given to answer

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