A report comparing actual results with the budget figure is called a ___________

Related MCQs

• Match the columns (i) Activity Ratio -------------------- i) (Actual hours worked / Budgeted hours) * 100 (ii) Capacity Ratio ------------------ ii) (Standard hours of actual production / Actual hours worked) * 100 (iii) Efficiency Ratio ----------------- iii) (Standard hours for actual output / Budgeted hours) * 100
• R&D budget and Capital expenditure budget are examples of
• Which statement is true.I)Fixed budget assumes Changing business conditions. II)Flexible budget is prepared for only one level of activity.
• Which statement is true.I)Fixed budget assumes Changing business conditions. II)Flexible budget is prepared for only one level of activity.
• A Local Authority is preparing cash Budget for its refuse disposal department. Which of the following items would not be included in the cash budget?
• Given standard time per unit is 80 hours, standard time per hour @ Rs 1 per hour, actual time per unit is 90 hours and actual rate per hour @ Rs 1.10 per hour. Determine labour cost variance, labour rate variance and labour efficiency variance.
• The data related to Production of T are for material X standard data and actual data are 40 kgs @ Rs 10 and 55 kgs @ Rs 9, respectively. The standard data and actual data for material Y are 50 kgs @ Rs 5 and 35 kgs @ Rs 7. Determine material usage variance.
• In a manufacturing firm, the standard quantity of material was set at 10 kg and standard price was fixed at Rs. 2 per kg. The actual quantity consumed was 12 kg and the actual price paid was Rs 1.90 per kg. Determine material usage variance.
• During the month of December actual direct labour cost amounted to $39,550, the standard direct labour rate was $10 per hour and the direct labour rate variance amounted to $450 favourable. The actual direct labour hours worked were:
• If the actual price input is $700, the budgeted price of input is $400 and the actual quantity of input are 50 units, then the price variance will be