The following represent transactions on the material account for a company for the month of March 20X8:
$000s
Issued to production 144
Returned to stores 5
The material inventory at 1 March 20X8 was $23,000 and at 31 March 20X8 was $15,000. How much material was purchased in March 20X8?
$ O
Materials inventory account
$000s $000s
Opening inventory 23 Issued to production 144
Purchases (bal fig) 131
Returned to stores 5 Closing balance 15
159 159
多做几道
What does an adverse variable overhead efficiency variance indicate and what might be the cause?
Explain briefly the possible causes of
(i) A favourable material usage variance
(ii) A favourable labour rate variance
(iii) An adverse sales volume contribution variance.
What is the relationship between the labour efficiency variance and the variable overhead efficiency variance? Why might the monetary value be different?
Explain the meaning and relevance of interdependence of variances when reporting to managers.
A balanced scorecard measures performance 什om four perspectives: customer satisfaction, growth, financial success and process efficiency. Briefly explain these processes.
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