Question: 1
Refer to the exhibit.
A company issued its production budget based on an anticipated output of 800 units. Actual output was 1,000 units. The details of the costs are shown below:
The total budget variance was:
Question: 2
A management accountant has forecast the following cash inflows from four potential projects.
All four projects require the same initial investment and will last for four years. They all result in a positive net present value but only one of the projects can be undertaken.
Which project should be selected?
Question: 3
A service company provides accountancy training courses. Which THREE of the following would be classified as variable costs of the company?
Question: 4
Which of the following would NOT require taking into account the time value of money?
Question: 5
Refer to the exhibit.
Xpert Ltd uses a standard costing system and therefore values all inventory at standard cost. During period 7, the price paid for material 'Z' was 2 per kg more than the standard price.
The following information for material 'Z' relates to period 7:
What was the material price variance for 'Z' in period 7?
