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 sales volume contribution variance for the period was:

A company operates an integrated standard cost accounting system. The standard price of raw material A is $20 per litre. At the start of period 1, the inventory of 500 litres of raw material A was valued at $20 per litre. During period 1, 100 litres of raw material A were purchased at an actual price of $21 per litre. During period 2, 550 litres of raw material A were issued to Job 789.

In respect of the above events, which TWO of the following statements are correct? (Choose two.)

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: