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Are the following statements true or false?

Statement one: The master budget includes the capital expenditure budget.

Statement two: Continuous budgets are also known as rolling budgets.

Statement three: Scenario planning is mainly used in the short term.

Statement four: The mission of an organisation is the target to be met in the medium term.

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考点：Chapter15Budgeting

(i) False

(ii) True

(iii) False

(iv) False

多做几道

What was the actual usage of direct material during February?

A

800 kg

B

1,000 kg

C

1,200 kg

D

None of these

What was the selling price variance for February?

A

$120 (F)

B

$900 (A)

C

$1,200 (A)

D

$1,200 (F)

What was the sales volume profit variance for February?

A

$900 (F)

B

$1,200 (F)

C

$900 (A)

D

$2,100 (A)

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30

【简答题】

From the information provided calculate

(i) The actual price paid per kg for the direct material

(ii) The standard quantity that should have been used for actual production.

Which of the following is likely to lead to the variances stated above?

A

lower quality direct material has been purchased

B

higher quality direct material has been purchased

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