职上网在线题库 > ACCA英国注册会计师试题 > F2 > Chapter20-22 > What would...

What would an adverse materials price variance and a favourable materials usage variance indicate and what might this be caused by?

扫码查看暗号，即可获得解锁答案！

在此输入暗号

点击获取答案

Chapter20Standardcosting

Materials variances

An adverse materials price variance and a favourable materials usage variance indicates that there is an inverse relationship between the two. This might be caused by purchasing higher quality material.

多做几道

Explain what is meant by standard costing

Explain what is meant by a standard cost

Describe four types of standard.

Explain what is meant by a standard hour.

Give five possible sources of information from which a standard materials price may be estimated.

最新试题

该科目易错题

该题目相似题

How would a clothes retailer classify the following costs?Cost Materials Labour ExpensesDesigner skirts Heating costs Depreciation of fixtures and fittings Cashier staff salaries
Camberwell runs a construction company. Classify the following costs by nature (direct or indirect) in the table below.Cost Direct IndirectBricks Plant hire for long term contract Builders' wages Accountants' wages
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
Are the following statements true or false?Statement True FalseIn periods of rising prices, FIFO gives a higher valuation ofclosing inventory than LIFO or AVCO. In periods of falling prices, LIFO gives a higher valuation ofissues of inventory than FIFO or AVCO. AVCO would normally be expected to produce a valuation ofclosing inventory somewhere between valuations FIFO and LIFO. FIFO costs issues of inventory at the most recent purchase price. AVCO costs issues of inventory at the oldest purchase price. LIFO costs issues of inventory at the oldest purchase price. FIFO values closing inventory at the most recent purchase price. LIFO values closing inventory at the most recent purchase price. AVCO values closing inventory at the latest purchase price.
Which of the following relate to marginal costing and which to absorption costing? Marginal costing Absorption costingThe cost of a product includes an allowance for fixed production costs. The cost of a product represents the additional cost of producing an extra unit. The following data are for questions 155 and 156The budget for Bright's first month of trading, producing and selling boats was as follows: $000Variable production cost of boats 45Fixed production costs 30Production costs of 750 boats 75Closing inventory of 250 boats (25)Production cost of 500 sold 50Variable selling costs 5Fixed selling costs 25 80Profit 10Sales revenue 90The budget has been produced using an absorption costing system.
What is the difference between a budget and a forecast?
Explain what is meant by a standard hour.
Give five possible sources of information from which a standard materials price may be estimated.
Explain the meaning of the term 'critical success factors' in a business giving examples of such factors.
What is the difference between internal and functional benchmarking?