快速查题-ACCA英国注册会计师试题

What is the difference between a budget and a forecast?

Explain what is meant by the principal budget factor

Explain what is meant by a flexible budget

State two advantages and two disadvantages of a flexible budget.

Explain what is meant by a flexed budget

Which of the following best describes management by exception?

Standard costing provides which of the following?

(i) Targets and measures of performance

(ii) Information for budgeting

(iii) Simplification of inventory control systems

(iv) Actual future costs

A unit of product L requires 9 active labour hours for completion. The performance standard for product L allows for ten per cent of total labour time to be idle, due to machine downtime. The standard wage rate is $9 per hour. What is the standard labour cost per unit of product L?

A company manufactures a single product L, for which the standard material cost is as follows.

                                                        $ per unit

Material 14 kg x $3                               42

During July, 800 units of L were manufactured, 12,000 kg of material were purchased for $33,600, of which 11,500 kg were issued to production.

SM Co values all inventory at standard cost.

What are the material price and usage variances for July?

Extracts from a company's records from last period are as follows.

                                                                                      Budget                    ActuaI

Production                                                                  1,925 units               2,070 units

Variable production overhead cost                             $11,550                   $14,904

Labour hours worked                                                 5,775                        8,280

What are the variable production overhead variances for last period?