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Management Accounting Test Question On Standard Costing SC1
Published by slang December 3rd, 2007 in Test Question Bank
Company ABC had the following budget for Period 1:
|
Product Y |
Product Z |
|
|
Sales ( Units) |
3,000 |
27,000 |
|
$ |
$ |
|
|
Standard selling price |
30 |
7.50 |
|
Standard cost |
18 |
6.00 |
|
Standard profit |
12 |
1.50 |
|
Product Y |
Product Z |
|
|
Sales ( Units) |
9,000 |
24,000 |
|
$ |
$ |
|
|
Standard selling price |
31.50 |
6.75 |
|
Standard cost |
18.00 |
6.00 |
|
Profit |
13.50 |
0.75 |
(i) Calculate the:
(a) Sales margin (profit) price variance
(b) Sales margin (profit) mixture variance
(c) Sales margin (profit) quantity variance (15 marks)
(ii) In view of the actual results, state (with comments) what factors you would wish to investigate. ( 5 marks)
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