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Student Answer:
Should be incurred under relatively efficient operating
conditions.
Will be incurred for an operation or a specific objective.
Must occur for an operation or a specific objective.
Cannot be changed once it is established by management.
Is useful for planning and control but not inventory valuation
purposes.
Question 8. Question : The difference between the total actual
sales revenue of a period
and the total flexible-budget sales revenue for the units sold
during
the period is the:
Student Answer:
Total flexible-budget variance.
Sales volume variance.
Selling price variance.
Operating income flexible-budget variance.