Answer the Following Questions Using the Information Below:
Berman's Camera

question 49

Multiple Choice

Answer the following questions using the information below:
Berman'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.
$\begin{array}{lrrr} &\text { Flexible }&\text { Variances }\\& \text { Budget } & \text { Price } & \text { Efficiency } \\\text { Material A } & \$ 40,000 & \$ 1,000 \mathrm{~F} & \$ 3,000 \mathrm{U} \\\text { Material B } & 60,000 & 500 \mathrm{U} & 1,500 \mathrm{~F} \\\text { Direct manufacturing labor } & 80,000 & 500 \mathrm{U} & 2,500 \mathrm{~F}\end{array}$
-The most likely explanation of the above variances for Material A is that ________.

• A) a lower price than expected was paid for Material A
• B) higher-quality raw materials were used than were planned
• C) the company used a higher-priced supplier
• D) Material A used during September was $2,000 less than expected

Differentiate between various types of interest (e.g., simple, compound) and their implications.

Assess the effects of changes in interest rates on savings, investments, and loan costs.

Understand the role of interest rates in the equilibrium of financial markets.

Calculate and distinguish between real and nominal interest rates.

---

Definitions:

Path-Goal Theory

A leadership theory that suggests leaders should adjust their leadership style to fit the employee and work environment to achieve a goal.

Achievement-Oriented Leadership

A leadership style focused on setting high goals and encouraging team members to reach their maximum performance.

Role Modeling

The process where individuals influence others by being examples to follow, particularly in behaviors, skills, or attitudes.

Psychosocial Functions

The roles and impacts that social relationships and societal structures have on an individual's psychological well-being.