In general, and holding all other things constant, an unfavorable variance decreases operating profits.Group startsTrue or FalseTrue, unselectedFalse, unselected

Variances are the difference between actual results and budgeted results.Group startsTrue or FalseTrue, unselectedFalse, unselected

Which of the following statement is incorrect?Select one:a. There is a favorable variance when units sold are more than budget.b. An unfavorable variance occurs when it leads to an increase in income.c. A favorable variance occurs when it leads to an increase in incomed. An unfavorable variance occurs when it leads to a decrease in income.

The supply of reproductions is highly inelastic so increases in demand have a large effect on increases in price.Group startsTrue or FalseTrue, unselectedFalse, unselectedGroup ends

Which of the following statements is true?The materials price variance is computed based on the amount of materials purchased during the period.The standard price per unit for direct materials should reflect the final, delivered cost of the materials.In general, the production manager is responsible for the materials price variance.An unfavorable materials quantity variance occurs when the actual quantity used in production is less than the standard quantity allowed for the actual output of the period.Multiple ChoiceBoth statements 1one and 2 are true.Both statements 2 and 3 are true.All of the statements are true.None of the statements are true.

The tendency of an investment’s value to fluctuate in price is calledGroup of answer choicesstandard deviationvolatilityriskstatistical perspectivereturn