true false write 39 t 39 if the statement is true and 39 f 39 if the statement is fa 4302238

TRUE/FALSE.  Write 'T' if the statement is true and 'F' if the statement is false. 1)  A variance is the difference between the actual result and a budgeted amount.
1)  _______  2)  Variances and flexible budgets help managers gain insights into why actual results differ from planned performance.
2)  _______  3)  A static budget is a budget that can be changed or altered after it is developed.
3)  _______  4)  The static-budget variance can be subdivided into the flexible-budget variance and the sales-volume

variance.
4)  _______  5)  A flexible budget is a budget that is developed using budgeted revenue or cost amounts and is not adjusted at the end of the budgeted period.
5)  _______  6)  A flexible budget enables managers to compute a richer set of variances than a static budget does.
6)  _______  7)  “Determine the actual quantity of the revenue driver,” is one step in the development of a flexible budget.
7)  _______  8)  The sales-volume variance is the difference between the flexible-budget amount and the static budget amount; unit selling prices, unit variable costs, and fixed costs are held constant.
8)  _______  9)  The flexible budget variance is the difference between the actual results and the flexible-budget amount for the actual levels of the revenue and cost drivers.
9)  _______  10)  The flexible budget variance pertaining to revenues is also called the variance of operating income.
10)  ______  11)  An input-price variance is the difference between actual quantity of input used and the budgeted quantity of input that should have been used, multiplied by the budgeted price.