Reference no: EM132669794
Problem 1) Which of these is not a possible reason for an unfavourable Materials Price variance?
Select one:
a. You bought higher quality material
b. There was a shortage of that material on the market
c. The price of oil rose
d. Your factory workers were less efficient than usual
Problem 2) Which of these is not a possible reason for an unfavourable Materials Quantity variance?
Select one:
a. You produced some faulty products that had to be discarded
b. You bought lower quality material that damaged easily
c. Your factory workers were less efficient than usual
d. There was a shortage of materials on the market
Problem 3) Which one of the following should be involved in the overall budget preparation?
Select one:
a. Management and accountants
b. Managers in various departments
c. Accountants
d. Senior management
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Which should be involved in the overall budget preparation
: Which should be involved in the overall budget preparation? Which is not a possible reason for an unfavourable Materials Quantity variance?
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Calculate the direct labour rate and efficiency variances
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Calculate the direct labour rate and efficiency variances
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How will affect the incomes statement
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