Which of the following statements regarding changing a company's articles of association is correct?
Which of the following changes to a company's articles of association is void?
Which of the following is a correct rule concerning company names?
Choose the appropriate words from those highlighted.
The materials yield variance is calculated on the difference between the standard/actual input for standard/actual output, and the standard/actual total quantity input (in the standard/actual mix), valued at standard/actual costs.
Choose the appropriate words from those highlighted
The sales mix variance is calculated as the difference between the standard/actual quantity sold in the standard/actual mix and the standard/actual quantity sold in the standard/actual mix, valued at standard/actual margin per unit.
Choose the appropriate words from those highlighted
The sales quantity variance is calculated as the difference between the standard/actual sales volume in the budgeted proportions and the budgeted sales volumes, multiplied by the standard/actual margin.
Spendthrift Co purchased 6,850 kg of material at a total cost of $32,195. The material price variance was $1,370 adverse. The standard price per kg was $ ________ (to the nearest cent)
A standard unit of product contains two materials, P and Q. The standard direct materials cost is:
$
Material P 0.1 kg at $8 per kg 0.8
Material Q 0.3 kg at $4 per kg 1.2
Total direct material cost 2.0
Management can control the mix of the materials and so, in standard costing variance reports, direct materials variances are reported as mix and yield variances.
In the period just ended, 45,000 units of finished products were made. They used 6,900 kg of Material P, which cost $7 per kg, and 12,600 kg of Material Q, which cost $5 per kg.
What was the adverse direct materials yield variance?
$ ________
The following data have been extracted from the budget working papers of WR Co:
Activity (machine hours) Overhead cost
$
10,000 13,468
12,000 14,162
16,000 15,549
18,000 16,242
In November 20X3, the actual activity was 13,780 machine hours and the actual overhead cost incurred was $14,521. Give your answer to the nearest $10.
Calculate the total overhead expenditure variance for November 20X3.
$_________ Favourable/Adverse (select the correct option)
This objective test question contains a question type which will only appear in a computer-based exam, but this question provides valuable practice for all students whichever version of the exam they are taking.
Mr. Green makes salads. The standard plate of salad has 30 g of lettuce (L), 50 g of peppers (P) and 80 g of beetroot (B). The standard prices of the three ingredients are $0.2/kg, 0.4/kg and 0.8/kg respectively. The actual prices were $0.22/kg, $0.38/kg and $0.82/kg.
Mr. Green has been experimenting and so in July he changed the mix of vegetables on the plate thus: 1,500 plates contained 62,000 grams of lettuce, 81,000 grams of peppers and 102,000 grams of beetroot.
What is the cost difference between the actual mix and the standard mix to the nearest cent?