Answer the following questions using the information below:
Hector's Camera Shop has prepared the following flexible budget for September and is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable variance.
-The actual amount spent for Material A was:
Definitions:
Marginal Physical Product
The addition to total output due to the employment of one more unit of a factor, other factors held constant.
Marginal Output
The additional quantity of output that is produced as a result of using one more unit of a particular input, assuming all other factors of production remain constant.
Marginal Physical Product
The change in output resulting from employing one more unit of a particular input, all else being constant.
Productivity
The measure of the efficiency of production, often evaluated as the ratio of output to inputs in the production process.
Q21: July's direct manufacturing labor flexible-budget variance is:<br>A)$375.00
Q38: Theoretical capacity:<br>A)is unattainable in the real world<br>B)represents
Q40: What is the static-budget variance of revenues?<br>A)$20,000
Q52: Above is a:<br>A)4-variance analysis<br>B)3-variance analysis<br>C)2-variance analysis<br>D)1-variance analysis
Q87: Most computer-based financial planning models have difficulty
Q91: Challenges only result from estimating the denominator
Q103: A linear cost function can only represent
Q125: An unfavorable variable overhead efficiency variance indicates
Q127: The Japanese use kaizen to mean financing
Q145: What is the fixed overhead spending variance?<br>A)$1,000