| 1. | If the actual price input is $700, the budgeted price of input is $400 and the actual quantity of input are 50 units, then the price variance will be |
| a. | $15,000 |
| b. | $13,000 |
| c. | $11,000 |
| d. | $9,000 |
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Answer: (a).$15,000
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| 2. | If the actual input price is $150 and the budgeted input price is $80, then the price variance will be |
| a. | $130 |
| b. | $70 |
| c. | $150 |
| d. | $80 |
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Answer: (b).$70
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| 3. | The standard input allows one unit, to be divided by standard cost per output unit, for variable direct cost input to calculate |
| a. | standard price per input unit |
| b. | standard price per output unit |
| c. | standard cost per input unit |
| d. | standard cost per output unit |
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Answer: (a).standard price per input unit
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| 4. | The consideration of decreased operating income relative to budgeted amount, in static budget is classified as |
| a. | revenue variance |
| b. | cost variance |
| c. | favorable variance |
| d. | unfavorable variance |
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Answer: (d).unfavorable variance
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| 5. | If the flexible budget variance is $105000, the actual cost is $65000 then the flexible budget cost will be |
| a. | $40,000 |
| b. | $50,000 |
| c. | $150,000 |
| d. | $170,000 |
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Answer: (a).$40,000
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