If the Static Budget Variance for Materials Is £200 F

question 24

Multiple Choice

If the static budget variance for materials is £200 F and the budgeted cost for materials is £52,000, then the actual cost of materials is

• A)£52,000.
• B)£52,200.
• C)£51,200.
• D)£51,800.

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Definitions:

Budget Constraint

A representation of all the combinations of goods and services that a consumer may purchase given current prices within his or her given income.

Slope

A measure of the steepness or gradient of a line, representing the ratio of the vertical change to the horizontal change between two points on the line.

Price

The financial cost associated with acquiring a good, service, or asset.

Income

Funds obtained regularly from work performed or investments made.