WorksheetsQantas ACC1200
Total questions: 10
Worksheet time: 5mins
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
