Solved

Match the Following Descriptions with the Appropriate Term

Question 111

Matching

Match the following descriptions with the appropriate term.

Premises:
A budget representing only one level of activity
A comparison of actual costs and budgeted costs
A budget that shows the budgeted costs at various levels of activity
Costs that vary in total in direct proportion to changes in the level of activity
A budget made for each manufacturing cost
Costs that do not change in total as the level of activity changes
An operating plan expressed in monetary units
The different levels of activity at which a factory is expected to operate
Used to determine the fixed and variable components of a semivariable cost
Costs that vary with, but not in direct proportion to, the volume of activity
Responses:
Relevant range of activity
Budget performance report
Variable costs
Budget
High-low point method
Fixed budget
Flexible budget
Semi-variable costs
Manufacturing cost budget
Fixed costs

Correct Answer:

A budget representing only one level of activity
A comparison of actual costs and budgeted costs
A budget that shows the budgeted costs at various levels of activity
Costs that vary in total in direct proportion to changes in the level of activity
A budget made for each manufacturing cost
Costs that do not change in total as the level of activity changes
An operating plan expressed in monetary units
The different levels of activity at which a factory is expected to operate
Used to determine the fixed and variable components of a semivariable cost
Costs that vary with, but not in direct proportion to, the volume of activity
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