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

question 147

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: Based on the above data, how much was the sales volume variance for revenues?

• A)$4,500 U
• B)$700 U
• C)$380 U
• D)$3,960 F

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Definitions:

Group Creativity Skills

Capabilities possessed by a team that facilitate generating innovative ideas and solutions collaboratively.

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes, but do not guarantee optimal solutions.

Goal Orientation

The direction and persistence of behavior guided by individual goals and the strategies to achieve them.

Creativity Skill Sets

A collection of abilities and techniques that enable an individual to generate new ideas, solutions, or approaches.