Lenci Corporation Manufactures and Sells a Single Product

question 364

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 revenue variance for May would be closest to:

• A) $4,150 F
• B) $2,170 F
• C) $2,170 U
• D) $4,150 U

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Definitions:

Basic Trust

A concept introduced by Erik Erikson referring to an essential trustfulness of others as well as a fundamental sense of one's own trustworthiness, developed in infancy.

Initiative

Initiative pertains to the willingness to take the first step or action in a course of actions, often indicative of leadership or creativity.

Myers-Briggs Type Indicator

A personality assessment tool that categorizes individuals into 16 distinct personality types based on preferences in four dimensions: extraversion vs. introversion, sensing vs. intuition, thinking vs. feeling, and judging vs. perceiving.

Jungian Classification

A system of personality typology developed by Carl Jung that classifies people based on their preferences in perception and judgment.