Which of the following documents would be completed in each situation? Material-新东方在线职业题库

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Which of the following documents would be completed in each situation?

Material Requisition Purchase Requisition Goods received note Goods returned note

Material returned to

stores from production

Form completed by the

stores department detailing

inventory requirements

Materials returned to supplier

Materials Requisition Purchase Requisition Goods received note Goods returned note

Form completed by

stores on receipt of goods

Form completed by

production detailing inventory requirements.

Chapter6Accountingformaterials

Material Purchase Goods received Goods returned

Requisition Requisition note note

Material returned to 对

stores from production

Form completed by the 对

stores department detailing

inventory requirements

Materials returned to supplier 对

Materials Purchase Goods received Goods returned

Requisition Requisition note note

Form completed by 对

stores on receipt of goods

Form completed by 对

production detailing inventory requirements.

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What does an adverse variable overhead efficiency variance indicate and what might be the cause?

Explain briefly the possible causes of

(i) A favourable material usage variance

(ii) A favourable labour rate variance

(iii) An adverse sales volume contribution variance.

What is the relationship between the labour efficiency variance and the variable overhead efficiency variance? Why might the monetary value be different?

Explain the meaning and relevance of interdependence of variances when reporting to managers.

A balanced scorecard measures performance 什om four perspectives: customer satisfaction, growth, financial success and process efficiency. Briefly explain these processes.

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Referring to the graph which statements are true and which are false? True FalseArea 3 shows the best performance in Q3 Area 2 sales are consistent quarter on quarter Q4 has the largest volume of sales across all areas Area 1 shows the best performance in Q2
Which of the following documents would be completed in each situation? Material Requisition Purchase Requisition Goods received note Goods returned noteMaterial returned to stores from production Form completed by thestores department detailinginventory requirements Materials returned to supplier Materials Requisition Purchase Requisition Goods received note Goods returned noteForm completed bystores on receipt of goods Form completed byproduction detailing inventory requirements.
The following represent transactions on the material account for a company for the month of March 20X8: $000sIssued to production 144Returned to stores 5The material inventory at 1 March 20X8 was $23,000 and at 31 March 20X8 was $15,000. How much material was purchased in March 20X8? $ O
Which method of inventory valuation is being described?Characteristic FIFO LIFO AVCOPotentially out of date valuation on issues. The valuation of inventory rarely reflects the actualpurchase price of the material. Potentially out of date closing inventory valuation. This inventory valuation method is particularly suitedto inventory that consist of liquid materials e.g. oil. This inventory valuation method is particularly suitedto inventory that has a short shelf life e.g. dairy products. This inventory valuation method is suited to a wheat farmerwho has large silos of grain. Grain is added to and taken fromthe top of these silos. In times of rising prices this method will give higher profits. In times of rising prices this method will give lower profits. In times of rising prices this method gives a middle level ofprofits compared to the other two. Issues are valued at the most recent purchase cost. Inventory is valued at the average of the cost of purchases. Inventory is valued at the most recent purchase cost.
What is the difference between a budget and a forecast?
State two advantages and two disadvantages of a flexible budget.
Explain what is meant by a standard cost
What is the relationship between the labour efficiency variance and the variable overhead efficiency variance? Why might the monetary value be different?
Discuss one potential problem that might be experienced as a result of using ROI to appraise the performance of the divisions.Recommend one alternative performance measure that could be used to address this problem.
Explain two factors that should be considered when designing divisional performance measures.