Budgets are used to plan and to control operations. True False A continuous or p

Question

Budgets are used to plan and to control operations. True False A continuous or perpetual budget is a budget that almost never needs to be revised. True False On a cash budget, the total amount of budgeted cash payments for manufacturing overhead should not include any amounts for depreciation on factory equipment. True False Comparing a static planning budget to actual costs is a good way to assess whether variable costs are under control. True False A revenue variance is favorable if the actual revenue exceeds what the revenue should have been for the actual level of activity of the period. True False An unfavorable spending variance may reflect waste as well as paying too much for inputs. True False An unfavorable labor rate variance can occur if workers with high hourly wage rates are assigned to work on products with standards that assume workers have low hourly wage rates. True False All other things being the same, a decrease in average operating assets will decrease return on investment (ROI). True False A balanced scorecard should not contain any performance measures concerning customer satisfaction since the extent to which customers are satisfied is beyond the control of any manager in the company. True False

Explanation / Answer

(1) TRUE

(2) TRUE

(3) FALSE

(4) FALSE

(5) TRUE

(6) TRUE

(7) TRUE

(8) TRUE

(9) TRUE

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