for 15) theres also a choice c for neither A nor B

12) If actual sales are $5 million, with budgeted sales of $4.5 million, the variance would be: A) favorable by $.5 million B) unfavorable by $.5 million C) Neither 13)True False Companies have an Organizational Chart showing the hierarchy of positions and who reports to who and includes job titles. 14) True False One of the main drawbacks of using the Payback Method instead of Net Present Value or the Internal Rate of Return, is that the Payback Method does not use the Cost of Capital or the Time Value of Money in its calculation. I 15) If actual administrative costs are $17 million, with budgeted amount of $16 million, the variance would be: A) favorable by $1 million B) unfavorable by $1 million