Flexible-Budget Variance = $200,000 (F); Sales-Volume Variance = $350,000 (U);

question 69

Multiple Choice

Flexible-budget variance = $200,000 (F) ; sales-volume variance = $350,000 (U) ; sales-mix variance = $300,000 (F) ; calculate the static-budget variance.

• A) $150,000 (U)
• B) $300,000 (U)
• C) $300,000 (F)
• D) $250,000 (F)

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Definitions:

Dissolved

The process by which a company or partnership formally closes its business and ceases operations.

Limited Partner

A partner in a partnership whose liability is limited to the amount of their investment, and who typically does not participate in the day-to-day management of the business.

Limited Partnership

A form of partnership consisting of at least one general partner and one limited partner, where the latter has limited liability.

Capital Contribution

The act of injecting funds or other assets into a company or partnership by its owners or partners to support its operations or investment activities.