In order to provide information that is suitable for control purposes, the budget must be:
In a company's sales ledger department, one additional invoice clerk is needed for every eighty customers added to the customer database. The total salary cost of invoice clerks is best described as:
A product sells for £10 per unit and has an annual break-even volume of 50,000 units. The annual fixed costs are £100,000.
The variable cost per unit is:
Give your answer to 2 decimal places.
Which one of the following is a characteristic of strategic financial information?
The materials price variance will be adverse when:
A company uses an integrated accounting system.
The accounting entries for the sale of goods on credit would bE.
SP Limited operates an absorption costing system. It uses a predetermined overhead absorption rate based on machine hours. Budgeted factory overheads for the year were £1,080,000 but actual overhead incurred was £1,046,000. Budgeted machine hours were 120,000 and actual machine hours were 119,000.
Overheads for the period were.
Refer to the exhibit.
Patchit Limited operates a job costing system. They have been asked to quote for a rush job that will require to be done in overtime hours. It is estimated that the job will incur the following costs:
Production overheads are absorbed on a direct labour hour basis. Budgeted direct labour hours for the year were 50,000 and budgeted direct labour cost was $300,000.
If production overheads had been based on a percentage of direct labour cost, the revised production costs for the job would be:
Refer to the exhibit.
The following information relates to Job 123:
The selling price to the customer for Job 123 is:
In investment appraisal, the internal rate of return is
