The Total Variable Cost Flexible-Budget Variance for Any Given Period

question 166

Multiple Choice

The total variable cost flexible-budget variance for any given period:

• A)Is the difference between actual total variable cost incurred and master budgeted total variable cost.
• B)Is decomposable into sales-volume and sales-mix components.
• C)Is decomposable into production-volume and production-mix components.
• D)Can be broken down into flexible-budget variances for major costs such as materials,labor,variable overhead,and variable selling expenses.

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Definitions:

Revoke

The act of officially canceling or withdrawing something, such as a law, right, or privilege.

Without Reserve

An auction term indicating that the item for sale will be sold to the highest bidder, regardless of the bid amount, with no minimum price set.

Auction

A public sale in which goods or property are sold to the highest bidder.

Revocation

The act of officially withdrawing, cancelling, or reversing a decision, offer, or statement.