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• Question 1 Central Winery manufactured two products, A and B.
Estimated demand for product A was 10,000 bottles and for product B
was 30,000 bottles. The estimated sales price per bottle for A was $6.00
and for B was $8.00. Actual demand for product A was 8,000 bottles
and for product B was 33,000 bottles. The actual price per bottle for A
was $6.20 and for B was $7.70. What amount would be the total selling
price variance for Central Winery?
• Question 2 A defense contractor for a government space project has
incurred $2,500,000 in actual design costs to date for a guidance system
whose total budgeted design cost is $3,000,000. If the design phase of
the project is 60% complete, what is the amount of the contractor’s
current overrun/savings on this design work?
• Question 3 After the goals of the company have been established and
communicated, the next step in the planning process would be the
development of the
• Question 4 Birney Company is planning its advertising campaign for
2012 and has prepared the following budget data based on a zero
advertising expenditure:
• Question 5 The cash receipts budget includes
• Question 6 Breakeven analysis assumes over the relevant range that
• Question 7 An increase in production levels within a relevant range
most likely would result in
• Question 8 The process of developing plans for a company’s
expected operations and controlling the operations to help carry out
those plans is known as
• Question 9 Sussex Company has budgeted its operations for
February 2012. No change in inventory level during the month is
planned. Selected data from estimated amounts are as follows:
• Question 10 A company is attempting to determine if there is a cause
and effect relationship between scrap value and output produced. The
following exhibit presents the company’s scrap data for the last fiscal
year: