Lenci Corporation Manufactures and Sells a Single Product

question 118

Multiple Choice

Lenci Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5,100 units, but its actual level of activity was 5,050 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May: Data used in budgeting:
Actual results for May:
The overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for May would be closest to:

• A) $3,595 F
• B) $2,750 F
• C) $2,750 U
• D) $3,595 U

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Definitions:

Database Documenter

A functionality that produces detailed descriptions and specifications of the contents of a database, aiding in understanding and managing the database structure.

Access Database

An integrated database management system by Microsoft, incorporating the relational qualities of the Microsoft Jet Database Engine, alongside a graphical user interface and resources for software development.

Lookup Settings

Configuration options in a database or application that determine how data lookup operations are performed, often impacting the performance and results of such operations.

Table Datasheet View

A layout in database applications that displays data in rows and columns, similar to a spreadsheet.