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Question : 21. The difference between operating income a flexible budget and actual : 1295662

Economics

 

 

21. The difference between operating income on a flexible budget and actual operating income is called the: 
A. sales volume variance.
B. efficiency variance.
C. standard variance.
D. flexible budget variance.

 

22. The difference between operating income on a company’s flexible budget and operating income on its static budget is called the: 
A. sales volume variance.
B. efficiency variance.
C. standard variance.
D. flexible budget variance.

 

23. The flexible budget variance: 
A. directs managements attention to specific reasons for why budgeted income differed from actual income.
B. compares the static budget to the flexible budget.
C. removes any differences between budgeted operating income and actual income that are attributable to differences in budgeted and actual volume.
D. is most often used to determine whether or not there is sufficient demand for a company’s product.

 

24. Which of the following statements is true regarding the sales volume variance? 
A. It should show the same variance as the flexible budget variance.
B. It is computed by taking the difference between sales revenue on the flexible budget and actual sales revenue.
C. It will equal the difference between the contribution margin on the static budget and the contribution margin on the flexible budget.
D. It will equal the difference between the actual sales price and expected sales price per unit.

 

25. Dorffman Inc. has a $12,000 favorable flexible budget variance for May. If May’s actual net income was $68,000, which of the following statements is true? 
A. Dorffman’s static budget must have showed net income of $56,000.
B. Dorffman’s static budget must have showed net income of $80,000.
C. Dorffman’s flexible budget must have showed net income of $56,000.
D. Dorffman’s flexible budget must have showed net income of $80,000.

 

26. Prevo Products Inc. has a $15,000 unfavorable flexible budget variance for July. If July’s actual net income was $300,000, which of the following statements is true? 
A. Prevo’s static budget must have showed net income of $315,000.
B. Prevo’s static budget must have showed net income of $285,000.
C. Prevo’s flexible budget must have showed net income of $315,000.
D. Prevo’s flexible budget must have showed net income of $285,000.

 

27. Taylor Products Inc. has a $8,000 unfavorable flexible budget variance for October. If October’s flexible budget net income was $175,000, which of the following statements is true? 
A. Taylor’s static budget must have showed net income of $183,000.
B. Taylor’s static budget must have showed net income of $167,000.
C. Taylor’s actual net income must have been $183,000.
D. Taylor’s actual net income must have been $167,000.

 

28. Smith Corp. has a $6,000 favorable flexible budget variance for January. If January’s flexible budget net income was $100,000, which of the following statements is true? 
A. Smith’s static budget must have showed net income of $106,000.
B. Smith’s static budget must have showed net income of $94,000.
C. Smith’s actual net income must have been $106,000.
D. Smith’s actual net income must have been $94,000.

 

29. Chapman Products has a favorable materials usage variance. Which of the following would be the most likely reason for this variance? 
A. The company overbudgeted the quantity of material to be used for each unit.
B. The company purchased material at a price for less than what was expected.
C. The company’s employees were less trained than expected.
D. The company’s machines were better maintained resulting in less waste of materials.

 

30. Miller Company has an unfavorable materials price variance. Which of the following would be the least likely reason for this variance? 
A. The company purchased a higher quality material than was budgeted.
B. The company did not take advantage of purchase discounts.
C. The company used more material than was budgeted for in each unit.
D. The company underbudgeted the standard price for materials.

 

 

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July 1, 2023
    

This paper has some similarities with The Aging Simulation, the critical difference of this assignment now requires that you observe and interview live people. This time you will sharpen your skills of observation and interviewing while relating relevant theories to these observations. You will utilize relevant sources and theoretical material to understand the development your interviewee describes. You will construct a set of 15 open ended questions relevant to your population based on your readings and research which guide you through the interview. 

Please select one population you want to interview; young adult, mid-life, or older adult. You will be required to interview a standardized client in the Simulation Lab for 25-30 minutes. Following the interview, you will be asked to meet with your Standardized Client for feedback. This session is usually about 5 minutes. The reflection and simulated life span interview will be 20% of the grade you earn on your Life Span Interview paper. 

Young Adult

You will interview a young adult 18-30 years of age. You will interview the young adult in a simulated situation letting the client describe the process of emerging from parental oversight into the role of an adult. Use open ended questions such as, “How has your relationship with your parents changed since you have started to become more independent?” or “What factors have influenced your decisions about career, college or work?” or “What are things that have been difficult finding and building close relationships?” You will be able to fashion other questions as well after reading your text and related Canvas materials. 

Adult in Midlife

You will interview a middle-aged adult 40-55 years old. Your simulated interview should explore the changing family life cycle, including aging parents, shifting patterns in a long term partnership/marriage and children leaving home. It can also include open ended questions such as “How have you started planning for retirement?” or “What do you think it means to be in the prime of life?” or “How would you describe your adult sibling relationships?” You will be able to fashion other questions as well after reading your text and related Canvas materials. 

Older Adult

You will interview an older adult. You will interview the individual for 25-30 minutes and let the person tell the story of his or her life to you. You can use open ended questions such as, “Tell me about your childhood?” or “What are some of the things you are most proud of that you have done in your life?” or “What are some experiences that you think really made you who you are?” You will be able to fashion other questions as well after reading your class materials. 

General Paper Outline

  • 1 page, briefly explain how your interviewee sees him/herself in the general environment, as well as in the various components of his or her micro, mezzo and macro systems.
  • Developmental description.2 pages, describe your observations about this person’s biological, psychological, and social development. If there are any, note any discrepancies between your observations and what the interviewee stated.
  • Theoretical analysis.2 pages, discuss the theories/theorists that are relevant in understanding this person’s development, and how these apply to the interviewee. Utilize at least 2 theories/theorists and include at least 3 relevant and recent (from 2013 or later) journal articles to support your analysis. Discuss also if there are any discrepancies between expectations by age vs. actual observations. Use this information to analyze if this person is developing as expected from theory, or if the person’s experiences actually provide information that the theory is not fully relevant to describe the development of this interviewee.
  • Using the video of your interview, complete the computerized reflection by identifying 3 moments from recording (include time-stamps in paper) and draw conclusions based on your assessment of any concerns of your overall performance. 1. Emphasize what you have learned about yourself (including your engagement skills) from meeting with this person. 2. Identify and describe a moment where you felt your interviewing skills were the strongest. 3. Identify and describe a moment where you you felt your interviewing skills could've been better; what could you have done differently? Your reflection can be written in first person. 
  • Please include a list of at least 10-15 questions that you asked the simulated client.
  • It should be formatted in APA style regarding margins, headings, page numbers, font, reference list, appendices, and in-text citations. 

Rubric::

Introduction Clearly describes the person, their setting, system and environment: 

10 pts

This criterion is linked to a Learning OutcomeDevelopmental DescriptionContains accurate information, astute observations and shows that the interview was thorough and that the student carefully considered the developmental content

20 pts

This criterion is linked to a Learning OutcomeTheoretical AnalysisCorrectly utilizes and applies 3 theories, shows understanding of the theory and application, not just restating the theory.

20 pts

This criterion is linked to a Learning OutcomeReflectionShows depth of reflection, accurate and convincing discussion of the assessment.

20 pts

This criterion is linked to a Learning OutcomeAppendicesQuestions are useful, well stated, open ended and reflect content that would elicit information about development appropriate to the population

15 pts

This criterion is linked to a Learning OutcomeReferences & APARelevant journal sources, correctly utilized to support ideas, emphasis on content instead of authors, correctly cited and recent, within the past five years.

Learning OutcomeGrammar/Typos/APA/Use of Headings/Subheadings

Use of headings/subheading consistent with assignment instructions. Free of grammatical errors and typos. Complies with APA guidelines. It should be formatted in APA style regarding margins, headings, page numbers, font, reference list, appendices, and in-text citations.

15 pts

default image
July 1, 2023
    

This paper has some similarities with The Aging Simulation, the critical difference of this assignment now requires that you observe and interview live people. This time you will sharpen your skills of observation and interviewing while relating relevant theories to these observations. You will utilize relevant sources and theoretical material to understand the development your interviewee describes. You will construct a set of 15 open ended questions relevant to your population based on your readings and research which guide you through the interview. 

Please select one population you want to interview; young adult, mid-life, or older adult. You will be required to interview a standardized client in the Simulation Lab for 25-30 minutes. Following the interview, you will be asked to meet with your Standardized Client for feedback. This session is usually about 5 minutes. The reflection and simulated life span interview will be 20% of the grade you earn on your Life Span Interview paper. 

Young Adult

You will interview a young adult 18-30 years of age. You will interview the young adult in a simulated situation letting the client describe the process of emerging from parental oversight into the role of an adult. Use open ended questions such as, “How has your relationship with your parents changed since you have started to become more independent?” or “What factors have influenced your decisions about career, college or work?” or “What are things that have been difficult finding and building close relationships?” You will be able to fashion other questions as well after reading your text and related Canvas materials. 

Adult in Midlife

You will interview a middle-aged adult 40-55 years old. Your simulated interview should explore the changing family life cycle, including aging parents, shifting patterns in a long term partnership/marriage and children leaving home. It can also include open ended questions such as “How have you started planning for retirement?” or “What do you think it means to be in the prime of life?” or “How would you describe your adult sibling relationships?” You will be able to fashion other questions as well after reading your text and related Canvas materials. 

Older Adult

You will interview an older adult. You will interview the individual for 25-30 minutes and let the person tell the story of his or her life to you. You can use open ended questions such as, “Tell me about your childhood?” or “What are some of the things you are most proud of that you have done in your life?” or “What are some experiences that you think really made you who you are?” You will be able to fashion other questions as well after reading your class materials. 

General Paper Outline

  • 1 page, briefly explain how your interviewee sees him/herself in the general environment, as well as in the various components of his or her micro, mezzo and macro systems.
  • Developmental description.2 pages, describe your observations about this person’s biological, psychological, and social development. If there are any, note any discrepancies between your observations and what the interviewee stated.
  • Theoretical analysis.2 pages, discuss the theories/theorists that are relevant in understanding this person’s development, and how these apply to the interviewee. Utilize at least 2 theories/theorists and include at least 3 relevant and recent (from 2013 or later) journal articles to support your analysis. Discuss also if there are any discrepancies between expectations by age vs. actual observations. Use this information to analyze if this person is developing as expected from theory, or if the person’s experiences actually provide information that the theory is not fully relevant to describe the development of this interviewee.
  • Using the video of your interview, complete the computerized reflection by identifying 3 moments from recording (include time-stamps in paper) and draw conclusions based on your assessment of any concerns of your overall performance. 1. Emphasize what you have learned about yourself (including your engagement skills) from meeting with this person. 2. Identify and describe a moment where you felt your interviewing skills were the strongest. 3. Identify and describe a moment where you you felt your interviewing skills could've been better; what could you have done differently? Your reflection can be written in first person. 
  • Please include a list of at least 10-15 questions that you asked the simulated client.
  • It should be formatted in APA style regarding margins, headings, page numbers, font, reference list, appendices, and in-text citations. 

Rubric::

Introduction Clearly describes the person, their setting, system and environment: 

10 pts

This criterion is linked to a Learning OutcomeDevelopmental DescriptionContains accurate information, astute observations and shows that the interview was thorough and that the student carefully considered the developmental content

20 pts

This criterion is linked to a Learning OutcomeTheoretical AnalysisCorrectly utilizes and applies 3 theories, shows understanding of the theory and application, not just restating the theory.

20 pts

This criterion is linked to a Learning OutcomeReflectionShows depth of reflection, accurate and convincing discussion of the assessment.

20 pts

This criterion is linked to a Learning OutcomeAppendicesQuestions are useful, well stated, open ended and reflect content that would elicit information about development appropriate to the population

15 pts

This criterion is linked to a Learning OutcomeReferences & APARelevant journal sources, correctly utilized to support ideas, emphasis on content instead of authors, correctly cited and recent, within the past five years.

Learning OutcomeGrammar/Typos/APA/Use of Headings/Subheadings

Use of headings/subheading consistent with assignment instructions. Free of grammatical errors and typos. Complies with APA guidelines. It should be formatted in APA style regarding margins, headings, page numbers, font, reference list, appendices, and in-text citations.

15 pts

default image
July 1, 2023
    

This paper has some similarities with The Aging Simulation, the critical difference of this assignment now requires that you observe and interview live people. This time you will sharpen your skills of observation and interviewing while relating relevant theories to these observations. You will utilize relevant sources and theoretical material to understand the development your interviewee describes. You will construct a set of 15 open ended questions relevant to your population based on your readings and research which guide you through the interview. 

Please select one population you want to interview; young adult, mid-life, or older adult. You will be required to interview a standardized client in the Simulation Lab for 25-30 minutes. Following the interview, you will be asked to meet with your Standardized Client for feedback. This session is usually about 5 minutes. The reflection and simulated life span interview will be 20% of the grade you earn on your Life Span Interview paper. 

Young Adult

You will interview a young adult 18-30 years of age. You will interview the young adult in a simulated situation letting the client describe the process of emerging from parental oversight into the role of an adult. Use open ended questions such as, “How has your relationship with your parents changed since you have started to become more independent?” or “What factors have influenced your decisions about career, college or work?” or “What are things that have been difficult finding and building close relationships?” You will be able to fashion other questions as well after reading your text and related Canvas materials. 

Adult in Midlife

You will interview a middle-aged adult 40-55 years old. Your simulated interview should explore the changing family life cycle, including aging parents, shifting patterns in a long term partnership/marriage and children leaving home. It can also include open ended questions such as “How have you started planning for retirement?” or “What do you think it means to be in the prime of life?” or “How would you describe your adult sibling relationships?” You will be able to fashion other questions as well after reading your text and related Canvas materials. 

Older Adult

You will interview an older adult. You will interview the individual for 25-30 minutes and let the person tell the story of his or her life to you. You can use open ended questions such as, “Tell me about your childhood?” or “What are some of the things you are most proud of that you have done in your life?” or “What are some experiences that you think really made you who you are?” You will be able to fashion other questions as well after reading your class materials. 

General Paper Outline

  • 1 page, briefly explain how your interviewee sees him/herself in the general environment, as well as in the various components of his or her micro, mezzo and macro systems.
  • Developmental description.2 pages, describe your observations about this person’s biological, psychological, and social development. If there are any, note any discrepancies between your observations and what the interviewee stated.
  • Theoretical analysis.2 pages, discuss the theories/theorists that are relevant in understanding this person’s development, and how these apply to the interviewee. Utilize at least 2 theories/theorists and include at least 3 relevant and recent (from 2013 or later) journal articles to support your analysis. Discuss also if there are any discrepancies between expectations by age vs. actual observations. Use this information to analyze if this person is developing as expected from theory, or if the person’s experiences actually provide information that the theory is not fully relevant to describe the development of this interviewee.
  • Using the video of your interview, complete the computerized reflection by identifying 3 moments from recording (include time-stamps in paper) and draw conclusions based on your assessment of any concerns of your overall performance. 1. Emphasize what you have learned about yourself (including your engagement skills) from meeting with this person. 2. Identify and describe a moment where you felt your interviewing skills were the strongest. 3. Identify and describe a moment where you you felt your interviewing skills could've been better; what could you have done differently? Your reflection can be written in first person. 
  • Please include a list of at least 10-15 questions that you asked the simulated client.
  • It should be formatted in APA style regarding margins, headings, page numbers, font, reference list, appendices, and in-text citations. 

Rubric::

Introduction Clearly describes the person, their setting, system and environment: 

10 pts

This criterion is linked to a Learning OutcomeDevelopmental DescriptionContains accurate information, astute observations and shows that the interview was thorough and that the student carefully considered the developmental content

20 pts

This criterion is linked to a Learning OutcomeTheoretical AnalysisCorrectly utilizes and applies 3 theories, shows understanding of the theory and application, not just restating the theory.

20 pts

This criterion is linked to a Learning OutcomeReflectionShows depth of reflection, accurate and convincing discussion of the assessment.

20 pts

This criterion is linked to a Learning OutcomeAppendicesQuestions are useful, well stated, open ended and reflect content that would elicit information about development appropriate to the population

15 pts

This criterion is linked to a Learning OutcomeReferences & APARelevant journal sources, correctly utilized to support ideas, emphasis on content instead of authors, correctly cited and recent, within the past five years.

Learning OutcomeGrammar/Typos/APA/Use of Headings/Subheadings

Use of headings/subheading consistent with assignment instructions. Free of grammatical errors and typos. Complies with APA guidelines. It should be formatted in APA style regarding margins, headings, page numbers, font, reference list, appendices, and in-text citations.

15 pts

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