Onyx Company Prepared a Static Budget at the Beginning of the Month

question 36

Multiple Choice

Onyx Company prepared a static budget at the beginning of the month. At the end of the month, the company is analyzing actual results versus budget using flexible budget methodology. Data are as follows:
Static budget: Sales volume: 1,000 units Price: $70 per unit
Variable expense: $32 per unit Fixed expenses: $37,500 per month
Operating income: $500
Actual results: Sales volume: 990 units Price: $74 per unit
Variable expense: $35 per unit Fixed expenses: $33,000 per month
Operating income: $5,610
-
Based on the above data, how much was the sales volume variance for variable expenses?

• A) $2,970 U
• B) $320 F
• C) $380 U
• D) $3.960 F

Recognize the methods and tools for measuring runout.

Identify errors caused by improper application of runout tolerances.

Differentiate between circular runout and total runout.

Explain the significance of datum features in runout measurement.

---

Definitions:

Concurrent Federal

The situation where federal laws or actions operate simultaneously with state laws or actions in the same area.

Long-Arm

Refers to statutes that allow for a court to exercise personal jurisdiction over an out-of-state defendant based on certain activities that occurred within the state.

Federal Circuit

A specialized United States appellate court that has jurisdiction over certain specific types of cases, including those involving patents and trademarks.

Patent and Trademark Office

A government agency responsible for the issuance of patents to inventors and businesses for their inventions, and trademarks for their product and service identifications.