Use of Variances Quiz Questions with Answers PDF Download - 139

If an actual result is $50000 and the static budget variance is $25000, then the static budget amount will be

1. $75,000
2. $25,000
3. $35,000
4. $45,000

If the margin of safety is $25000 and the budgeted revenue is $45000, then the margin of safety in percentage will be

1. 55.56%
2. 25.50%
3. 28%
4. 45.00%

Of the cost allocation base, the difference between actual and budgeted variable overhead cost multiplied by actual quantity for actual output is classified as

1. variable overhead spending variance
2. fixed overhead spending variance
3. constant spending variance
4. potential spending variance

If the actual price input is $500, the budgeted price of input is $300 and the actual quantity of input is 50 units, then the price variance would be

1. $4,000
2. $6,000
3. $8,000
4. $10,000

If an actual result is $250000 and the static budget amount is $150000, then the static budget variance for operating income will be

1. $400,000
2. $500,000
3. $100,000
4. $600,000