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What is the variable overhead expenditure variance?
Refer to the Exhibit. AM Ltd. makes and sells a single product for which the standard cost information is as follows: ✑ Budgeted production for the period is 30000 units. ✑ The actual results for the period were as follows: What is the variable overhead expenditure variance?A . 13,161 adverseB...
Refer to the exhibit.
Refer to the exhibit. DS is manufacturing company that uses an integrated accounting system. The following payroll data is available for the month of August: The Employers' National Insurance for the period was $13,790. An analysis of the wages is as follows: Which of the following factors affect the budgeted...
CORRECT TEXT
CORRECT TEXT Refer to the exhibit. The following information relates to Job 123: The selling price to the customer for Job 123 is:View AnswerAnswer: $27030
Each finished carton of product P contains 15 litres of liquid L. During the production process there is an unavoidable loss of 20% of the liquid input. The standard price of liquid L is $2 per litre.
Each finished carton of product P contains 15 litres of liquid L. During the production process there is an unavoidable loss of 20% of the liquid input. The standard price of liquid L is $2 per litre. The standard ingredient cost for liquid L shown on the standard cost card...
Which one of the following is NOT one of the five stated fundamental principles of CIMA's code of ethics?
Which one of the following is NOT one of the five stated fundamental principles of CIMA's code of ethics?A . IntegrityB . ObjectivityC . PunctualityD . ConfidentialityView AnswerAnswer: C
CORRECT TEXT
CORRECT TEXT A company operates a full cost system of pricing. Production overheads are absorbed using a pre-determined absorption rate of £3.50 per machine hour. The direct production cost of product A is £15 per unit and it utilises 6 machine hours per unit. The mark-up for non-production costs is...
In a period in which machine hours are in short supply, which of the following options is the rank order of production?
Refer to the Exhibit. Zepher Ltd. manufactures three products, which require the same type of machine. The following fixed cost and profit per unit is available: In a period in which machine hours are in short supply, which of the following options is the rank order of production? Answer is:A...
What is the direct labor cost for the welding department?
Refer to the exhibit. The wages analysis for the welding department of a manufacturing company is given below: What is the direct labor cost for the welding department?A . $40,550B . $36,890C . $30,250D . $38,490View AnswerAnswer: B
The master budget is:
The master budget is:A . A consolidation of all subsidiary budgetsB . The income statementC . The cash budgetD . The budget for the principal budget factorView AnswerAnswer: A
The decision rule to use when determining the optimal production plan if there is a scarce resource is:
The decision rule to use when determining the optimal production plan if there is a scarce resource is:A . Maximise profit per unitB . Maximise profit per unit of scarce resourceC . Maximise contribution per unitD . Maximise contribution per unit of scarce resourceView AnswerAnswer: D
