CONFIDENTIAL

$2$

QUESTION $1(10$ marks; $18$ minutes$)$

Indicate whether the following staternents are True or False

$1\mathrm{.}1$ A static budget compares actual costs wht budefled costs.

$1\mathrm{.}2$ An after$-$the$-$fact Hewble budgor alows managers to gererape financiat results from a number of potential scenarios

$1\mathrm{.}3$ Fixed overtead costs are rasounces acquired as used and needed

$1\mathrm{.}4$ Managers develop quanty standarda when they deade what amount of input should be used per unit of culput.

$1\mathrm{.}5$ The standard coss per unt of cutput tor a particular input is calculated by mutiplying the standard input price by the standard inpit allowed per units of output produced.

$2\mathrm{.}6$ The standard cost shewt powides the ript ctanchards needed to celculate the total amoum of inpits atown forthe actual putput an essential component in caloulating efficiency valiances

$1\mathrm{.}7$ The master bucget es thp caly a compehenste tinancia plan for the organisation for the pasifiscal yest

$1\mathrm{.}8$ The prodiction budget is procucod if covernglatestine tors