Chapter 10- Graded Assignment

Chapter 10- Analysis & Decision Making

How frequently should note sheets that track quality defects be reviewed?
A. Hourly
B. Daily
C. Weekly
D. Monthly

What is the process used for regularly reviewing standardized recipes to maintain quality?
A. Corrective action
B. Variance analysis
C. Spot checking
D. Rollout evaluation

What financial document is used to assess actual revenues and expenses?

A. Operating budget
B. Cash review
C. Income statement
D. Accounting audit

What is the term for a 365-day accounting period that does not begin on January 1 and end on December 31?
A. Fiscal year
B. Income year
C. Calendar year
D. Accounting year

Budgeted revenue minus budgeted expenses equals budgeted

A. variable costs.
B. mixed costs.
C. investment.
D. profit.

What is an example of a fixed cost?

A. Rent
B. Utilities
C. Beverage
D. Labor

What is an example of a variable cost?

A. Depreciation
B. Food
C. Interest
D. Insurance

The budgeted food cost is $10,000 and the actual food cost is $12,000. What is the food cost percentage variance?
A. 2%
B. 12%
C. 15%
D. 20%

If actual revenue is greater than budgeted revenue, a fixed expense stated in dollars will
A. increase.
B. decrease.
C. stay the same.
D. varies with revenue.

What is the best strategy to increase profits without reducing the quality of products and services?
A. Increase revenue
B. Increase customers
C. Decrease investments
D. Decrease costs