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Flexible Budget and Management Control
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Flexible Budget and Management Control – MCQs
28 questions. Click to practice.
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Correct options are highlighted when revealed.
1.
Given that the sales budget variance for operating income is $58,000 and the static budget figure is $15,000, what is the value of the flexible budget?
$43,000
$73,000
$63,000
$53,000
2.
Given a flexible budget value of $82,000 and an actual outcome of $45,000, what is the variance between the flexible budget and the actual result?
$97,000
$87,000
$27,000
$37,000
3.
Given a flexible budget of $27,000 and a flexible budget variance of $12,000, what is the actual amount recorded?
$27,000
$15,000
$39,000
$49,000
4.
Given a sales budget variance of $47,000 and a flexible budget figure of $77,000, what is the value of the static budget?
$144,000
$134,000
$124,000
$30,000
5.
Given a sales budget variance of $57,000 and a flexible budget total of $97,000, what is the value of the static budget?
$40,000
$154,000
$164,000
$124,000
6.
If the flexible budget is $57,000 and the flexible budget variance is $14,000, what is the actual amount achieved?
$61,000
$71,000
$43,000
$24,000
7.
Given a flexible budget value of $62,000 and an actual outcome of $35,000, what is the resulting flexible budget variance?
$27,000
$37,000
$97,000
$87,000
8.
What is calculated by taking the difference between the budgeted selling price and the actual selling price, then multiplying by the number of units sold?
variance in profit
variance in investment
variance in cost
variance in selling price
9.
What term describes the difference between the flexible budget figure and the actual outcome?
related variance
outcome variance
flexible budget variance
fixed budget variance
none of the above
10.
What is determined by subtracting the static budget figure from the flexible budget figure?
sales budget variance
cost budget variance
overall budget variance
variance in the static budget
operational budget variance
11.
To find the actual result, what must be added to the flexible budget variance?
fixed budget outcome
flexible budget amount
derived budget figure
initial budget total
planned budget value
12.
Given that the sales budget variance for operating income is $68,000 and the static budget amount is $19,000, what is the value of the flexible budget amount?
$47,000
$57,000
$87,000
$97,000
None of the above
13.
The difference between the actual results and the flexible budget is used to determine which type of variance?
unidentified budget variance
flexible budget variance
fixed budget variance
static budget variance
none of the above
14.
Given a static budget of $208,000 and a flexible budget of $305,000, what is the sales budget variance?
$67,000
$97,000
$57,000
$47,000
15.
Given an actual outcome of $26,000 and a flexible budget value of $13,000, what is the flexible budget amount?
$39,000
$49,000
$13,000
$15,000
16.
How is the flexible budget variance for a company's revenue categorized?
selling price variance
investment variance
profit variance
primary variance
17.
Given a static budget of $9,000 and a flexible budget of $20,000, what is the sales volume variance?
$29,000
$11,000
$15,000
$10,000
18.
Given that the actual selling price is $500, the actual revenue is $250, and 350 units were sold, what is the selling price variance?
$87,500
$97,500
$67,500
$57,500
19.
Given an actual result of $25,000 and a flexible budget figure of $11,000, what is the flexible budget variance?
$36,000
$46,000
$56,000
$14,000
20.
Given a static budget of $6,000 and a flexible budget of $15,000, what is the sales volume variance?
$9,000
$8,000
$12,000
$21,000
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