Answer the Following Questions Using the Information Below

question 69

Multiple Choice

Answer the following questions using the information below:
The actual information pertains to the third quarter. As part of the budgeting process, the Duck Decoy Department of Wooden Figurines Incorporated had developed the following static budget for the third quarter. Duck Decoy is in the process of preparing the flexible budget and understanding the results.

-The flexible-budget variance for variable costs is:

• A)$21,000 favorable
• B)$13,583 unfavorable
• C)$35,583 unfavorable
• D)$35,583 favorable

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Definitions:

Corporations Act

Legislation that governs the operation and regulation of companies within a certain jurisdiction, detailing the legal requirements for company formation, operation, and dissolution.

Consolidated Statement

A financial statement that aggregates the financial performance and position of a parent company and its subsidiaries.

Other Comprehensive Income

Revenues, expenses, gains, and losses that are not included in net income but affect equity.

Non-controlling Interest

A minority stake in a subsidiary not owned by the parent company, representing shareholders' equity in subsidiaries not wholly owned by the parent.