Reference no: EM133185085
Questions -
Q1. SCM Company had P400,000 budgeted fixed overhead costs and based its standard on normal activity of 40,000 units. Actual fixed overhead costs were P430,000, actual production was 36,000 units, and sales were 30,000 units. Calculate the volume variance?
Q2. A company has fixed costs of P150,000, a variable cost ratio of 60%, and a margin of safety ratio of 25%. Considering the given data, which of the following statements is not correct?
The company's profit ratio is 10%
Sales amounted to P375,000
Profit amounts to P50,000
The contribution margin amounts to P200,000
None of the above
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Calculate the volume variance
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