write true when the statement is correct and false when incorrect on the answer sheet provided (1.5 point each) 1. The master budget is a compressive budget for the entire firm. 2. The two broad categories of budget that compose the master budgets and capital budgets. 3. The budgeted statement of cash receipts and disbursemer operating budget. 4. Both fixed costs and variable costs are included in a flexible 5. The variable overhead efficiency variance provides a measur 6. The company's choice of the denominator level of activity at spending variance. 7. The less the denominator activity level used to compute the rate, the less the predetermined overhead rate. 8. When fixed manufacturing overhead cost is applied to work if it were a fixed cost. 9. There can be a volume variance for either variable manuf manufacturing overhead. 10. If the denominator level of activity is less than the standa output of the period, then the volume variance is unfavor utilization of available facilities Part II: Choose the letter of the best answer for the fo the letter of your choice in the separate answer sh 1. Which of the following standard cost variances would us production supervisor? A Fixed overhead volume variance, B. Variable overhead efficiency variance. write true when the statement is correct and false when incorrect on the answer sheet provided (1.5 point each) 1. The master budget is a compressive budget for the entire firm. 2. The two broad categories of budget that compose the master budgets and capital budgets. 3. The budgeted statement of cash receipts and disbursemer operating budget. 4. Both fixed costs and variable costs are included in a flexible 5. The variable overhead efficiency variance provides a measur 6. The company's choice of the denominator level of activity at spending variance. 7. The less the denominator activity level used to compute the rate, the less the predetermined overhead rate. 8. When fixed manufacturing overhead cost is applied to work if it were a fixed cost. 9. There can be a volume variance for either variable manuf manufacturing overhead. 10. If the denominator level of activity is less than the standa output of the period, then the volume variance is unfavor utilization of available facilities Part II: Choose the letter of the best answer for the fo the letter of your choice in the separate answer sh 1. Which of the following standard cost variances would us production supervisor? A Fixed overhead volume variance, B. Variable overhead efficiency variance