Indicate whether each of the following statements is true or false.The total flexible budget materials variance can be broken down into a price variance and a rate variance. ______If the materials price variance was $3,000 unfavorable and the materials usage variance was $2,000 favorable, the flexible budget materials variance was $1,000 unfavorable. ______If the actual quantity of material used was 10,000 pounds, the actual price per pound was $2.40, and the standard price per pound was $2.25, the materials price variance was $1,500 unfavorable. ______The production department normally is considered to be responsible for materials price variances. ______Analyzing both favorable and unfavorable variances can improve efficiency and benefit the entire company. ______
What will be an ideal response?
The total flexible budget materials variance can be broken down into a price variance and a rate variance. F
If the materials price variance was $3,000 unfavorable and the materials usage variance was $2,000 favorable, the flexible budget materials variance was $1,000 unfavorable. T
If the actual quantity of material used was 10,000 pounds, the actual price per pound was $2.40, and the standard price per pound was $2.25, the materials price variance was $1,500 unfavorable. T
The production department normally is considered to be responsible for materials price variances. F
Analyzing both favorable and unfavorable variances can improve efficiency and benefit the entire company. T
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On the statement of cash flows prepared by the indirect method, the cash flows from operating activities sectionwould include
a. receipts from the sale of investments b. amortization of premium on bonds payable c. payments for cash dividends d. receipts from the issuance of capital stock
________ can be defined as shopping centers that employ a unifying theme that is carried out by the individual shops in their architectural design and, to an extent, in their merchandise. They are typically designed to appeal to tourists.
A. Regional centers B. Specialty centers C. Theme/festival centers D. Center replicas E. Price-oriented centers
On November 1, 2018, Worldwide, Inc. declared a dividend of $3.00 per share. Worldwide, Inc. has 20,000 shares of common stock outstanding and no preferred stock. Prepare the journal entry to record this transaction. Omit explanation.
What will be an ideal response?
If no harm results from an allegedly negligent act, there is no liability.
Answer the following statement true (T) or false (F)