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What budgets rely on the production figures A) Direct Material Budget B) Direct Labour Badget C) Variable Manufacturing Overhead D) All of the above What is the final budget to be pecpared as part of the master budget? A) Budgeted income statement B) Cash Disbursements budget C) Bodgeted balance shect D) Selling and administrative budget What would a prodoction manaper likely be responsible for in their budget A) Cash collections B) Direct maserials costing usage C) Equipmen financias purchases for the each budpet D) Sales volume for the sales budpet What is the difference between static and flecible budgets A) Flexible budgets adapt for actual pricing B) Flevible budgets adapt for production and sales volumes C) Static budgets change based on units sold D) Static budgets adapt for pricing but not units sold What are some characteristics of standard costs? A) Standand costs are prodetermined B) Benchmarks for measuring perficmanes C) Used to simplify the accounking syslem D) All of the above Who helps set the standard coots? A) Acoountants B) Production managers C) Payroll matagers D) All of the ahove What is the difference between static and flexible budgets A) Static budget is only based on variable conts B) Flevible budget does not include fixad costs. C) Static budgeting adapts acconding to sales volume D) Flexible budecting changes based on activity level What docs a static budpet variance compate A) Static budget vs flexible badget B) Static budget vr actual C) Static budget atjusted for actual actrvity volume D) Static budget adjustod for actaal fixed costs

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