54. Financing activities involve A) acquiring long-lived assets. B) lending money. C) issuing debt. D) acquiring investments. 55. It is important that budgets be accepted by A) division managers. B) department heads. C) supervisors. D) all of these. 56. Budgeting is usually most closely associated with which management function? A) Motivating B) Controlling C) Planning D) Directing 57. The labor quantity variance is A) (AH x SR) - (SH x SR). B) (AH x SR) - (SH x AR). C) (AH x AR) - (SH x SR). D) (AH x AR)-(AH x SR). 58. An unfavorable materials quantity variance would occur if A) more materials were purchased than were used. B) actual labor hours used were greater than the standard labor hours allowed. C) actual pounds of materials used were greater than the standard pounds allowed. D) actual pounds of materials used were less than the standard pounds allowed. 59. Which one of the following describes the total overhead variance? A) The difference between what was actually incurred and the total production budget B) The difference between what was actually incurred and the flexible budget amount C) The difference between the overhead applied and the flexible budget amount D) The difference between what was actually incurred and overhead applied Pags 11 Yersion 2