It is company policy that the closing inventory of finished goods must be equal to 10% of the following month's budgeted sales. The budget sales for November and December are 50,000 and 40,000 units respectively.
The budgeted production for November will be
Which of the following are NOT behavioural aspects of budgetary controls? (Select ALL that apply.)
A company operates a flexible budget system. A budget for direct material cost is set at £12500 for 2500 kgs of material.
It is budgeted that all materials will be obtained at a 5% discount when total production is in excess of 2700 kgs.
What variance is reported if actual material usage is 3000 kgs and the actual cost is £13500?
A company uses an integrated accounting system.
The accounting entries for depreciation of machinery used for production would be.
Refer to the exhibit.
A company issued its production budget based on an anticipated output of 2000 units. The actual output for the period was 1500 units. The details of the costs are shown below:
The budget volume variance was:
Refer to the exhibit.
Each unit of product 'Yell' uses 3 kgs of material 'X'.
The budgeted details for July are as follows:
It is anticipated that sales of product 'Yell' in July will be 5,000 units.
The amount of material 'X' that needs to be purchased in July is:
In order for the information in a management accounting report to be authoritative its contents must be:
TESTED 22 Feb 2025
