jeopardy part 1 Flashcards
1
Q
A budget prepared for a single, planned level of activity
A
Static Budget
2
Q
Spending variance is found by comparing this budget to actuals
A
Flexible Budget
3
Q
The price variance is computed based on what quantity
A
Quantity Purchased
4
Q
When calculating variances, the SQ/SH (#) should be flexed based on what
A
LOA
5
Q
This is the amount of time required to turn raw materials into completed products
A
Throughput Time
(aka Manufacturing Cycle Time)
6
Q
These are the non-value-added activities that occur during the manufacturing cycle
A
Inspection, Move, and Queue
7
Q
This cost can be eliminated by choosing one alternative over another
A
Relevant/Differential Cost
8
Q
The machine or process that is restricting overall output
A
Bottleneck
(or constraint)
