BA2 Exam Dumps : Fundamentals of management accounting

Data for the latest period for a company which makes and sells a single product are as follows:

There were no budgeted or actual changes in inventories during the period.

The variable overhead expenditure variance for the period was:

Which of the following statements is correct?

(i) Public sector bodies use annual budgets and thus have no need for longer term strategic planning information

(ii) Public sector budgets are fixed budgets therefore the use of flexible budgets for cost control purposes is not appropriate

(iii) Public sector performance indicators include both financial and non-financial information

Refer to the exhibit.

Which is the correct journal entry required to record an adverse labour rate variance in an integrated accounting system?

The correct journal entry required to record an adverse labour rate variance in an integrated accounting system is: