96. A company's budgeted sales for last month were 20,000 units with a standard selling...

60.1K

Verified Solution

Question

Accounting

96. A company's budgeted sales for last month were 20,000 units with a standard selling price of $25 per unit and a standard contribution to sales ratio of 60%. Actual sales for last month were 21,000 units with total revenue of $504,000. Compute the sales price variance for last month.
a. $20,000 Adverse.
b. $20,000 Favorable.
c. $21,000 Adverse.
d. $21,000 Favorable.
97. The following data relates to the Polishing Department of Glory Production Limited for last year.
Budgeted production overhead cost Budgeted labor hours
Actual production overhead cost Actual labor hours
$360,00080,000 hours $380,00082,000 hours
Calculate the pre-determined overhead absorption rate per labor hour for the Polishing Department for last year.
a. $4.39 per labor hour.
b. $4.50 per labor hour.
c. $4.63 per labor hour.
d. $4.75 per labor hour.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students