Question 7 (1 point) True or False: As discussed in this course, department managers are expected to have full control over ALL areas of their department's budget. True False Question 8 (1 point) True or False: "Variable" costing, with regards to inventory valuation, allows fixed manufacturing overhead costs incurred by a company to be assigned to inventory, but does not allow variable non-manufacturing costs to be assigned to inventory 1 12 14 15 True False 17 18 20 21 Question 9 (3 points) Calculate a Level 3 "rate/price" variance for materials given the following information: Budget Data: units produced 500; total material used 650 lbs: total material cost $7.150. Actual Results: units produced 400; total material used 600 lbs: total material cost $6,000. 23 24 $880 U 28 27 $880 F $600 F