Presented Below Are Terms Preceded by Letters a Through H

question 73

Short Answer

Presented below are terms preceded by letters a through h and followed by a list of definitions 1 through 8. Enter the letter of the term with the definition, using the space preceding the definition.
(a) Unfavorable variance
(b) Fixed budget performance report
(c) Overhead cost variance
(d) Budgetary control
(e) Spending variance
(f) Flexible budget performance report
(g) Quantity variance
(h) Favorable variance
________ (1) Results from a comparison of actual cost or revenue to budget that contributes to a lower income.
(2) A report that compares actual results with the results expected under a fixed budget.
________ (3) When management pays an amount different from the standard price to acquire an item.
________ (4) Results from a comparison of actual cost or revenue to budget that contributes to higher income.
(5) Management's use of budgets to see that planned objectives are met.
________ (6) Difference between actual quantity of an input and the standard quantity of the input.
________ (7) Difference between the total overhead cost applied to products and the total overhead cost actually incurred.
________ (8) A report that compares actual performance and budgeted performance based on actual sales volume or other activity level.

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Definitions:

Cash Flow

The net amount of cash being transferred into and out of a business, especially affecting liquidity.

Dividends

Dividends represent distributions of earnings from a company to its shareholders, typically originating from the firm's profits.

New Debt

Refers to additional borrowing or financial obligations taken on by an individual, company, or government.

New Equity

New equity refers to funds raised by a company through the issuance of new shares in the equity market.