The following is a proforma operating statement for Wick Co, a company manufacturing candles.
$
Budgeted profit
Sales volume variance
Standard profit on actual sales
Sales price variance
Favourable ($) Adverse ($)
Cost variances
Materials price
Materials usage
Labour rate
Labour efficiency
Variable overhead rate
Variable overhead efficiency
Fixed overhead expenditure
Fixed overhead capacity
Fixed overhead efficiency
Total
Actual profit
【不定项选择题】
Which of the following THREE statements are correct?
Wick Co uses standard profit per unit to calculate the sales volume variance.
The fixed overhead expenditure variance is the same figure as the over or under absorption of fixed overheads
Wick Co absorbs fixed overheads on an hourly basis.
The efficiency variances will all either be favourable or adverse