Assume that at the end of the first month unit variable costs and fixed costs and selling price for the month were in line with the budget and any inventory was valued at the same unit cost as in the above budget.
However, if production was actually 700 and sales 600; what would be the reported profit using absorption costing?
$000
Variable production cost of boats 45/750 x 700 42
Fixed production costs (absorbed) 30/750 x 700 28
Production costs of 700 boats 70
Closing inventory of 100 boats (10)
Production cost of 600 sold 60
Under-absorbed overhead 30-28 2
Variable selling costs 5/500 x 600 6
Fixed selling costs 25
93
Profit 15
Sales revenue 90/500 x 600 108
多做几道
Which of the following statements about management accounting information is/are true?
(i) They must be stated in purely monetary terms.
(ii) Limited companies must, by law, prepare management accounts.
(iii) They serve as a future planning tool and are not used as an historical record.
Which of the following statements is/are correct?
(i) A management control system is a term used to describe the hardware and software used to drive a database system which produces information outputs that are easily assimilated by management.
(ii) An objective is a course of action that an organisation might pursue in order to achieve its strategy.
(iii) Information is data that has been processed into a form meaningful to the recipient.
Good information should have certain qualities. Which of the following are qualities of good information?(i) Complete(ii) Extensive(iii) Relevant(iv) Accurate
Monthly variance reports are an example of which one of the following types of management information?
Which of the following statements is/are correct?
(i) Information for decision-making should incorporate uncertainty in some way
(ii) The data used to prepare financial accounts and management accounts are the
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