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 LO4: Flexible budget performance report
LO3: Revenue and spending variances

LO5: More than one cost driver

LO1: Prepare a flexible budget

Professional exam adapted

LO2: Activity variances

LO6: Common errors

Question Type Difficulty
1 T/F E x
2 T/F M x
3 T/F M x
4 T/F M x
5 T/F M x
6 T/F E x
7 T/F E x
8 T/F E x
9 T/F E x
10 T/F M x
11 T/F M x
12 T/F E x
13 T/F M x
14 T/F M x
15 T/F E x
16 T/F M x
17 T/F M x
18 T/F E x
19 T/F M x
20 T/F M x
21 T/F E x
22 T/F E x
23 T/F M x
24 T/F M x
25 T/F E x
26 Conceptual M/C E x
9-1
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 27 Conceptual M/C E x CMA
28 Conceptual M/C E x CIMA
29 Conceptual M/C E x
30 Conceptual M/C E x
31 Single Part M/C E x
32 Single Part M/C E x
33 Single Part M/C E x
34 Single Part M/C E x
35 Single Part M/C E x
36 Single Part M/C E x
37 Single Part M/C E x
38 Single Part M/C E x
39 Single Part M/C E x
40 Single Part M/C E x
41 Single Part M/C E x x
42 Single Part M/C E x x
43 Single Part M/C E x
44 Single Part M/C E x
45 Single Part M/C E x
46 Single Part M/C E x x
47 Single Part M/C E x x
48 Single Part M/C M x
49 Single Part M/C H x
50 Single Part M/C E x
51 Single Part M/C H x
52 Single Part M/C H x
53 Single Part M/C H x
54 Single Part M/C E x
55 Single Part M/C E x
56 Single Part M/C H x
57 Single Part M/C E x
58 Single Part M/C E x
59 Single Part M/C E x x
60 Single Part M/C E x x
61 Single Part M/C E x
62 Single Part M/C E x
CH09-Ref1 63-65 Multipart M/C E x
CH09-Ref2 66-68 Multipart M/C M x
CH09-Ref3 69-71 Multipart M/C E x
CH09-Ref4 72-74 Multipart M/C E x

9-2
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CH09-Ref5 75-77 Multipart M/C M x
CH09-Ref6 78-80 Multipart M/C M x
CH09-Ref7 81-83 Multipart M/C M x
CH09-Ref8 84-86 Multipart M/C E x
CH09-Ref9 87-89 Multipart M/C E x
CH09-Ref10 90-92 Multipart M/C E x
CH09-Ref11 93-95 Multipart M/C E x
CH09-Ref12 96-98 Multipart M/C M x
CH09-Ref13 99-101 Multipart M/C M x
CH09-Ref14 102-104 Multipart M/C E x
CH09-Ref15 105-107 Multipart M/C E x
CH09-Ref16 108-110 Multipart M/C M x
CH09-Ref17 111-113 Multipart M/C M x
CH09-Ref18 114-116 Multipart M/C E x
CH09-Ref19 117-119 Multipart M/C M x
CH09-Ref20 120-122 Multipart M/C E x
CH09-Ref21 123-126 Multipart M/C E x x x
CH09-Ref22 127-130 Multipart M/C E x x x
CH09-Ref23 131-134 Multipart M/C E x x x
CH09-Ref24 135-138 Multipart M/C E x x x
CH09-Ref25 139-142 Multipart M/C M x x x x
CH09-Ref26 143-146 Multipart M/C M x x x x
CH09-Ref27 147-150 Multipart M/C M x x x x
CH09-Ref28 151-155 Multipart M/C M x x x x
CH09-Ref29 156-159 Multipart M/C M x x x x
CH09-Ref30 160-163 Multipart M/C M x x x x
CH09-Ref31 164-167 Multipart M/C M x x x x
CH09-Ref32 168-171 Multipart M/C M x x x x
CH09-Ref33 172-175 Multipart M/C M x x x x
CH09-Ref34 176-179 Multipart M/C M x x x x
CH09-Ref35 180-184 Multipart M/C M x x x x
CH09-Ref36 185-188 Multipart M/C M x x x x
CH09-Ref37 189-192 Multipart M/C M x x x x
CH09-Ref38 193-196 Multipart M/C M x x x x
CH09-Ref39 197-200 Multipart M/C M x x x x
CH09-Ref40 201-204 Multipart M/C E x
CH09-Ref41 205-207 Multipart M/C M x
CH09-Ref42 208-210 Multipart M/C E x
CH09-Ref43 211-213 Multipart M/C M x
CH09-Ref44 214-216 Multipart M/C M x

9-3
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CH09-Ref45 217-219 Multipart M/C E x
CH09-Ref46 220-222 Multipart M/C E x
CH09-Ref47 223-226 Multipart M/C M x
CH09-Ref48 227-229 Multipart M/C E x
CH09-Ref49 230-233 Multipart M/C M x
CH09-Ref50 234-237 Multipart M/C M x
CH09-Ref51 238-240 Multipart M/C E x
CH09-Ref52 241-244 Multipart M/C E x x
CH09-Ref53 245-248 Multipart M/C E x x
249 Problem E x
250 Problem E x
251 Problem E x
252 Problem E x
253 Problem E x
254 Problem E x
255 Problem E x
256 Problem E x
257 Problem E x
258 Problem E x
259 Problem E x
260 Problem E x
261 Problem E x
262 Problem E x
263 Problem E x
264 Problem E x
265 Problem E x
266 Problem E x
267 Problem M x x
268 Problem E x x
269 Problem E x x
270 Problem E x x
271 Problem E x x
272 Problem E x x
273 Problem M x x
274 Problem E x x
275 Problem E x x
276 Problem M x x
277 Problem E x x
278 Problem E x x
279 Problem M x x x x

9-4
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 280 Problem M x x x x
281 Problem M x x x x
282 Problem M x x x x
283 Problem E x x x x
284 Problem M x x x x
285 Problem E x x x x
286 Problem M x x x x
287 Problem M x x x x x
288 Problem M x x x x x
289 Problem E x x
290 Problem E x x
291 Problem M x x
292 Problem M x x
293 Problem M x x
294 Problem E x x
295 Problem H x x x x
296 Problem H x x x x
297 Problem H x x x x
298 Problem H x x
299 Problem H x x
300 Problem M x x
301 Problem M x x
302 Problem H x x
303 Problem H x x
304 Problem M x
305 Problem M x
306 Problem M x
307 Problem M x

9-5
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 Chapter 09

Flexible Budgets and Performance Analysis

True / False Questions

1. A planning budget is prepared before the period begins and is valid for whatever the actual
level of activity turns out to be.

True False

2. Comparing a static planning budget to actual costs is a good way to assess whether variable
costs are under control.

True False

3. Directly comparing a static planning budget to actual costs helps to distinguish between
differences in costs that are due to changes in activity and differences that are due to how
well costs were controlled.

True False

4. Fixed costs should be ignored when evaluating how well a manager has controlled costs.

True False

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McGraw-Hill Education.
5. Fixed costs should be included in a flexible budget even though they do not change when the
level of activity changes.

True False

6. When a flexible budget is used in performance evaluation, actual costs are compared to the
static planning budget rather than to what the costs should have been for the actual level of
activity during the period.

True False

7. A flexible budget should not be used when making comparisons to actual results such as
actual expenses.

True False

8. A flexible budget cannot be used to estimate what costs should have been at a given level of
activity.

True False

9. A flexible budget can be used to estimate what revenues and costs should have been, given
the actual level of activity for the period.

True False

10. An activity variance is due to the difference between the level of activity used in the flexible
budget and the actual level of activity.

True False

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McGraw-Hill Education.
11. An unfavorable activity variance indicates that activity was too high for the amount of sales.

True False

12. The activity variance for revenue is unfavorable if the actual level of activity for the period is
less than the planned level of activity.

True False

13. An unfavorable activity variance for a variable cost occurs because the actual level of activity
is higher than expected when the static planning budget was prepared.

True False

14. A spending variance is the difference between the cost in the static planning budget and the
actual amount of the cost for the period.

True False

15. A revenue variance is favorable if the actual revenue exceeds what the revenue should have
been for the actual level of activity of the period.

True False

16. A revenue variance is unfavorable if the actual revenue is less than the revenue in the static
planning budget.

True False

17. An unfavorable spending variance may reflect waste as well as paying too much for inputs.

True False

9-8
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18. The revenue and spending variances are the differences between the flexible budget and the
actual results for the period.

True False

19. A favorable spending variance occurs when the actual cost exceeds the amount of the cost in
the static planning budget.

True False

20. Controllability has little to do with whether a cost is fixed or variable.

True False

21. A flexible budget report should contain variable costs and mixed costs but not fixed costs.

True False

22. In a flexible budget performance report, actual costs should be compared to the flexible
budget at the original budgeted activity level.

True False

23. Directly comparing static budget costs to actual costs only makes sense if the costs are
variable.

True False

24. If the actual level of activity is 4% less than planned, then the variable costs in the static
budget should be decreased by 4% before comparing them to actual costs.

True False

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25. A static planning budget is suitable for planning but is inappropriate for evaluating how well
costs are controlled.

True False

Multiple Choice Questions

26. A major weakness of flexible budgets is that:

A. they are valid for only a single level of activity.

B. they ignore fixed costs.

C. they compare actual costs at one level of activity to budgeted costs at a different level of
activity.

D. none of these is a major weakness of flexible budgets.

27. Comparing actual results to a budget based on the actual activity for the period is possible
with the use of a:

A. monthly budget.

B. master budget.

C. flexible budget.

D. rolling budget.

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28. A static planning budget is:

A. a budget for a single level of activity.

B. a budget that ignores inflation.

C. used only for fixed costs.

D. used when the mix of products does not change.

29. Which of the following comparisons best isolates the impact that changes in operating
efficiency have on performance?

A. static planning budget and flexible budget

B. static planning budget and actual results

C. flexible budget and actual results

D. master budget and static planning budget

30. Hoppy Corporation compares monthly operating results to a static budget prepared at the
beginning of the month. When the actual level of activity is less than budgeted, which of the
following would be true?

A. Variable costs would show favorable variances.

B. Variable costs would show unfavorable variances.

C. Fixed costs would show favorable variances.

D. Fixed costs would show unfavorable variances.

9-11
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31. Papenfuss Family Inn is a bed and breakfast establishment in a converted 100-year-old
mansion. The Inn's guests appreciate its gourmet breakfasts and individually decorated
rooms. The Inn's overhead budget for the most recent month appears below:

The Inn's variable overhead costs are driven by the number of guests.
What would be the total budgeted overhead cost for a month if the activity level is 76
guests?

A. $52,848.40

B. $8,343.40

C. $8,274.40

D. $7,373.24

32. Ohme Framing's cost formula for its supplies cost is $1,620 per month plus $13 per frame.
For the month of April, the company planned for activity of 882 frames, but the actual level of
activity was 878 frames. The actual supplies cost for the month was $13,500. The supplies
cost in the flexible budget for April would be closest to:

A. $13,086

B. $13,500

C. $13,034

D. $13,027

9-12
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33. Fuhrer Hotel bases its budgets on guest-days. The hotel's static budget for December
appears below:

The total overhead cost at an activity level of 7,500 guest-days per month should be:

A. $227,250

B. $215,140

C. $216,140

D. $206,040

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34. Akey Hospital bases its budgets on patient-visits. The hospital's static budget for March
appears below:

The total overhead cost at an activity level of 3,000 patient-visits per month should be:

A. $97,800

B. $92,100

C. $88,020

D. $92,640

35. Dehnert Midwifery's cost formula for its wages and salaries is $2,030 per month plus $409
per birth. For the month of May, the company planned for activity of 112 births, but the actual
level of activity was 114 births. The actual wages and salaries for the month was $50,800.
The wages and salaries in the planning budget for May would be closest to:

A. $47,838

B. $50,800

C. $49,909

D. $48,656

9-14
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36. Towne Snow Removal's cost formula for its vehicle operating cost is $1,470 per month plus
$399 per snow-day. For the month of November, the company planned for activity of 13
snow-days, but the actual level of activity was 9 snow-days. The actual vehicle operating cost
for the month was $5,230. The vehicle operating cost in the flexible budget for November
would be closest to:

A. $6,657

B. $5,230

C. $4,609

D. $5,061

37. Pettry Snow Removal's cost formula for its vehicle operating cost is $2,170 per month plus
$408 per snow-day. For the month of December, the company planned for activity of 16
snow-days, but the actual level of activity was 13 snow-days. The actual vehicle operating
cost for the month was $7,600. The vehicle operating cost in the planning budget for
December would be closest to:

A. $7,474

B. $9,354

C. $8,698

D. $7,600

9-15
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