Answer the Following Questions Using the Information Below

question 130

Multiple Choice

Answer the following questions using the information below:
The Sarasota Corporation manufactures two types of vacuum cleaners, the Victor for commercial building use and the House-Mate for residences. Budgeted and actual operating data for the year 2012 were as follows:

-What is the total static-budget variance in terms of the contribution margin?

• A)$900,000 favorable
• B)$700,000 favorable
• C)$200,000 unfavorable
• D)$360,000 unfavorable

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Definitions:

Financing Statement

A document filed to give public notice of a secured transaction, typically in relation to personal property, establishing a priority interest in the property for the creditor.

Constructive Notice

Notice presumed by law that an individual should have known, often through the public recording of documents, even if they were unaware.

Perfect Security Interest

An interest that is legally protected and established in a way that no other claimant can have a higher claim upon the collateral in question.

Purchase Money

Funds that are used specifically for the acquisition of assets, often related to real estate transactions or personal property.