Page 284 - BA2 Integrated Workbook STUDENT 2018
P. 284
Fundamentals of Management Accounting
6.4 The following details have been extracted from the payables records of
ABC:
Invoices paid in the month of purchase 25%
Invoices paid in the first month after purchase 70%
Invoices paid in the second month after purchase 5%
Purchases for July to September are budgeted as follows:
July $250,000
August $300,000
September $280,000
For suppliers paid in the month of purchase, a settlement discount of 5% is
received.
The amount budgeted to be paid to suppliers in September is
$___________
CHAPTER 7 – STANDARD COSTING AND VARIANCE ANALYSIS
Questions 7.1 and 7.2 are based on the following information.
The standard selling price of product Y is $34 per unit and the standard variable cost is
$20 per unit. Budgeted sales volume is 45,000 units each period.
Last period a total of 46,000 units were sold and the revenue achieved was
$1,495,000.
7.1 The sales price variance for the period was $ ________ adverse/favourable.
7.2 The sales volume contribution variance for the period was $ ________
adverse/favourable.
278
