A. the final portion of the master budget.
B. the depiction of an organization's overall actual financial results.
C. the first step of the master budget.
E. the second step of the master budget.
2. If a company has an unfavorable direct-material quantity variance, then:
A. the direct-material price variance is favorable.
B. the total direct-material variance is unfavorable.
C. the total direct-material variance is favorable.
D. the direct-labor efficiency variance is unfavorable
E. any of the above situations can occur.
Please se the response to your posting as below:
1. The budgeted income statement, ...
Solution contains answers of Multiple choice questions.