Regier Company had planned for operating income of $10 million in the master budget but actually achieved operating income of only $7 million
A) The static-budget variance for operating income is $3 million favorable.
B) The static-budget variance for operating income is $3 million unfavorable.
C) The flexible-budget variance for operating income is $3 million favorable.
D) The flexible-budget variance for operating income is $3 million unfavorable.
Answer: B
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According to Harris and Moran's eight categories, a kinship system refers to the influence of ________
A) workplace relations B) religious activities C) family relationships D) formal groups
An investor who exercises a call option on a S&P 500 ETF will
A) purchase ETF shares at the strike price. B) receive a cash settlement equivalent to the difference between the strike price and the current level of the index. C) receive a cash settlement equivalent to the difference between the strike price and 100 times the current level of the index. D) receive a cash settlement equivalent to the difference between the strike price and the current price of the ETF.