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
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?
Question: 4
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: 5
The International Federation of Accountants (IFAC) stated that it was important that ''accountants in business'' should understand what the drivers of stakeholder value are. Which of the following statements is valid?
