Qantas ACC1200

Which of the following would be recorded as an expense for Qantas instead of a cost?

• Wages

• Materials

• Depreciation

• Marketing costs

The ‘cost of sales value’ is taken from the

• Income statement

• Balance of Cash Flows

• Statement of Equity

• Statement of Tax Revenue

What would be an unfavourable cost movement for Qantas?

• A competitor goes out of business

• Lower interest rates on loans

• Decrease in manufacturing costs

• Increase in fuel prices

Which of these is a product cost for Qantas?

• Flight revenue

• Wage of the CEO

• Administrative expenses

• Rent expense

What is term is used when all budgets are compiled together?

• Whole budget

• Master budget

• Collated budget

• Complete budget

Which cost based pricing does Qantas predominantly use for ticket sales?

• Yield performance pricing

• Cost based pricing

• Market based pricing

• Competitive pricing

A way to increase cash inflow is

• Increasing inventory of in-flight food

• Extending credit terms for accounts receivable

• Keeping spare plane parts

• Acquiring an overdraft

Which is an example of favourable variance?

• Income is higher or current expenses are lower than in the budget.

• Income is lower or current expenses are higher than the budget.

• Income is higher or current expenses are higher than the budget.

• Income is lower or current expenses are lower than in the budget.

What would authoritarian budgets look like at Qantas?

• It would be set by the Board of Directors, but may cause budgetary slack

• It would be set by the Board of Directors, but may decrease staff morale.

• It would be set by QantasLink or Jetstar, but may cause budgetary slack

• It would be set by  QantasLink or Jetstar, but may decrease staff morale

 Which would be an unfavourable variance for Qantas?

• Increase in expenditures

• Decrease in ticket sales

• Decrease in fuel expenditures

• Increase in owners equity