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An successful responsibility accounting reporting system is dependent upon:

Which of the following statements about ideal standards is false?

Capital budgeting techniques are least likely to be used in evaluating the

Which of the following items is the last schedule to be prepared in the normal budget preparation process?

The internal rate of return (IRR) is the

The question below is based on the following information. Chem King uses a standard costing system in the manufacture of its single product. The 35,000 units of raw material purchased and used cost $105,000, and two units of raw material are required to produce one unit of final product. In November, the company produced 12,000 units of product. The flexible budget for material was $60,000, and there was an unfavorable static budget variance of $35,000.  Chem King’s standard price for one unit of material is

Cook Co.’s total costs of operating five sales offices last year were $500,000, of which $70,000 represented fixed costs. Cook has determined that total costs are significantly influenced by the number of sales offices operated. Last year’s costs and number of sales offices can be used as the bases for predicting annual costs. What would be the budgeted cost for the coming year if Cook were to operate seven sales offices?

Mien Co. is budgeting sales of 53,000 units of product Nous for October. The manufacture of one unit of Nous requires 4 kilos of chemical Loire. During October, Mien plans to reduce the inventory of Loire by 50,000 kilos and increase finished goods inventory of Nous by 6,000 units. There is no Nous work-in-process inventory. How many kilos of Loire is Mien budgeting to purchase in October?

Controllable costs

This question and the previous question is based on the following information. Soard, Inc. manufactures a product that has the direct materials standard presented below. Budgeted and actual information for the current month for the manufacture of the finished product and the purchase and use of the direct materials is also presented.  Standard cost for direct materials: 1.60 lb. @ $2.50 per lb.                                                                                                            Budget               Actual Finished goods (in units)                                                                     30,000               32,000 Direct materials usage (in pounds)                                                         ?                    51,000 Direct materials purchases (in pounds)                                               48,000              50,000 Total cost of direct materials purchases                                                  ?                 120,000 Soard’s direct materials efficiency variance for the current month is: