A budget variance is a departure from the expected outcome. (Points : 1) True False Question 2. 2. Production standards should include a value and quantity figure for waste. (Points : 1)
1. A budget variance is a departure from the expected
outcome. (Points : 1) True
False
| Question 2. 2. Production standards should include a value and quantity figure for waste. (Points : 1) True False |
| Question 3. 3. Flexible budgets mean a manager is allowed to change the budget every time something varies from what is expected. (Points : 1) True False |
| Question 4. 4. Favorable variances do not need to be investigated since the manager has done better than planned. (Points : 1) True False |
| Question 5.5. If the actual quantity of materials used is more than budgeted the firm will run an unfavorable materials price variance. (Points : 1) |
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