Reference no: EM132562355
Question 1: Opportunity costs are:
a. Not used in Decision making
b. The same as variable cost
c. The same as historical cost
d. Relevant in Decision making
Question 2: Alpha Corporation reported the following data for its most recent year: sales, $500,000; variable expenses, $300,000; and fixed expenses, $150,000. The company's degree of operating leverage is:
a. 10
b. 2
c. 4
d. 2.5
Question 3: The master budget is :
a. a flexible budget
b. a static budget
c. developed at the end of the period
d. based on the actual level of output
Question 4: Both variable and fixed manufacturing overhead costs are included in the selling and administrative expense budget.
a. True
b. False
Question 5: When preparing a direct materials budget, beginning inventory for raw materials should be added to production needs, and desired ending inventory should be subtracted to determine the amount of raw materials to be purchased.
a. True
b. False
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