Sales volume variances are attributable to differences between planned and actual activity volumes, as well as differences in selling price.
Answer the following statement true (T) or false (F)
False
Because the static and flexible budgets are based on the same standard sales price and per-unit variable costs, the variances are solely attributable to the difference between the planned and actual volume of activity.
You might also like to view...
________ can be used as a rough measure of a firm's efficiency in satisfying customers.
A. Macro-marketing B. Profits C. Returns D. The marketing mix E. Production
The process of influencing people to work toward a common goal is
A. motivating. B. leading. C. a sign of an autocratic leader. D. a hands-off approach. E. implementing.
The changes in each balance sheet account for Carver Corporation during the year just completed are as follows: IncreaseDecreaseCash and cash equivalents$3,000 Accounts receivable$5,000 Inventory $6,000 Prepaid expenses$3,000 Long-term investments $17,000 Property, plant and equipment$11,000 Accumulated depreciation$9,000 Accounts payable $8,000 Accrued liabilities$5,000 Bonds Payable $12,000 Common Stock$3,000 Retained Earnings$2,000 Carver Corporation's income statement for the year just ended shows the following:Income StatementSales$350,000Cost of goods sold 190,000Gross margin 160,000Selling and administrative expense 158,000Net income$2,000The company did not dispose of any property, plant, and
equipment, buy any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. Carver Corporation uses the direct method to construct its statement of cash flows.Required:a. Determine the sales adjusted to the cash basis.b. Determine the cost of goods sold adjusted to the cash basis.c. Determine the selling and administrative expenses adjusted to a cash basis.d. Determine the net cash provided by (used in) operating activities.e. Determine the net cash provided by (used in) investing activities.f. Determine the net cash provided by (used in) financing activities. What will be an ideal response?
A researcher with the Ministry of Transportation is commissioned to study the drive times to work (one-way) for U.S. cities. The underlying hypothesis is that average commute times are different across cities. To test the hypothesis, the researcher randomly selects six people from each of the four cities and records their one-way commute times to work. Refer to the below data on one-way commute times (in minutes) to work. Note that the grand mean is 36.625. HoustonCharlotteTucsonAkron?45252510?65303015?105351915?55103010?8550105?90703510
i74.16736.66724.83310.833si2?524.167436.66782.16714.167The p-value for the test is ________.
A. between 0.01 and 0.025 B. greater than 0.05 C. less than 0.01 D. between 0.025 and 0.05