QUESTION 1Spreadsheet software can aid in the preparation and analysis of budgets because of which relationship between static and flexible budgets?a.Static budget provides responses to the question “What if” the planned budget had included a certain volume.b.Flexible budget provides responses to the question “What if” the planned budget had included a certain volume.c.Static budget can be used as the basis of the master budget.d.Flexible budgets can be used to derive budgeted financial statements.1 points  QUESTION 2Which of the following is not true?a.Actual sales greater than expected sales are an unfavorable variance.b.Actual sales less than expected sales are an unfavorable variance.c.Actual costs less than expected costs are a favorable variance.d.Actual costs greater than expected costs are an unfavorable variance.1 points  QUESTION 3Standards that are easily attainable with or accomplished with a minimal effort are referred to as:a.Ideal Standardsb.Lax Standardsc.Practical Standardsd.Employee Standards1 points  QUESTION 4Standards, which are difficult to achieve due to reasons beyond the individual performing the task, are the result of firm using which of the following methods to establish standards?a.Ideal Standardsb.Lax Standardsc.Practical Standardsd.Employee Standards1 points  QUESTION 5Static BudgetActual ResultUnits44,00048,000Sales$2,640,000$2,760,000Variable Manufacturing Costs$880,000$936,000Variable Selling & Administrative$66,000$72,000Fixed Manufacturing Costs$700,000$750,000Fixed Selling and Administrative$800,000$800,000What is the amount of the Total Sales Variance?a.$120,000 Fb.$120,000 Uc.$240,000 Fd.$240,000 U1 points  QUESTION 6Static BudgetActual ResultUnits44,00048,000Sales$2,640,000$2,760,000Variable Manufacturing Costs$880,000$936,000Variable Selling & Administrative$66,000$72,000Fixed Manufacturing Costs$700,000$750,000Fixed Selling and Administrative$800,000$800,000What is the amount of the Flexible Budget Variance for Variable Manufacturing Costs? (Hint – calculate unit cost for the static budget and then apply to the actual units – that is the “should be” then compare to the actual)a.0b.$6,000 Uc.$24,000 Fd.$46,000 U1 points  QUESTION 7