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Costs & Budgets (202500-META-CPTG12114-EN)
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Pasir Corporation used the following data to evaluate their current operating system. The company sells items for $18 each and used a budgeted selling price of $18 per unit.
|
Actual
|
Budgeted
|
Units sold
|
41,000 units
|
40,000 units
|
Variable costs
|
$164,000
|
$156,000
|
Fixed costs
|
$46,000
|
$48,000
|
QUESTION8. What is the static‐budget variance of variable costs?
QUESTION6. A variance is ...... ?
QUESTION20. Budgets are used to...
QUESTION53. When 20,000 units are produced, variable costs are $8 per unit. Therefore, when 10,000 units are produced
Pasir Corporation used the following data to evaluate their current operating system. The company sells items for $18 each and used a budgeted selling price of $18 per unit.
|
Actual
|
Budgeted
|
Units sold
|
41,000 units
|
40,000 units
|
Variable costs
|
$164,000
|
$156,000
|
Fixed costs
|
$46,000
|
$48,000
|
QUESTION9. What is the static‐budget variance of operating income?
Kyogle Secretarial Services Inc., employs 20 full‐time secretaries. The budgeted annual compensation per employee is $40,500. The average chargeable time is 500 hours per client annually. All secretarial labor costs are included in a single direct‐cost category and are allocated to jobs on a per‐hour basis.
Other costs are included in a single indirect‐cost pool, allocated according to secretarial labor‐hours. Budgeted indirect costs for the year are $787,500, and the firm expects to have 90 clients during the coming year.
QUESTION30. If ten clients are lost and the workforce stays at 20 employees, then the direct labor cost rate per hour is:
The following information pertains to Woodburn Company:
Month
|
Sales
|
Purchases
|
January
|
$60,000
|
$32,000
|
February
|
$80,000
|
$40,000
|
March
|
$100,000
|
$56,000
|
∙ Cash is collected from customers in the following pattern: Month of sale 30%
Month following the sale 70%
∙ 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.
∙ Labor costs are 20% of sales. Other operating costs are $30,000 per month (including $8,000 of depreciation). Both of these payments are made in the month incurred.
∙ The cash balance on March 1 is $8,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000.
QUESTION31. How much cash will be collected from customers in March?
QUESTION66. Activity based costing system differs from traditional costing systems in the treatment of ….
QUESTION22. Which of the following is true of budgets when they are administered thoughtfully?
Litte India Incorporated planned to use materials of $12 per unit but actually used materials of $13 per unit and planned to make 1,500 units but actually made 1,800 units.
QUESTION14. The flexible‐budget amount for materials is: