Homework Help is Here – Start Your Trial Now!
Business
Accounting
1.Ahmad Jelani Enterprise produces ladies’ veils using the brand name ‘Taqwa’, which are specially designed for local market. The main fabrics are imported from Laos. Details of the product costing for the past 3 months are as follow: Quantity produced 3,000 units Actual fabrics price RM2.80/meter Standard fabrics price RM2.50/meter Actual quantity used 5.3 meters/unit Standard quantity used 5 meters/unit Actual labour rate RM4.50/hour Standard labour rate RM4.00/hour Actual labour hours 540 hours Standard labour hours 528 hours REQUIRED: Calculate the direct labour rate variance. Select one: A. RM264 U B. RM270 F C. RM270 U D. RM264 F 2. AG company purchased RM8,000 of merchandise on 5 January with credit terms 5/10, n/30. On 7 January, AG company returned RM500 worth of the merchandise. On 14 January, AG company paid the full amount due. The amount of the cash paid on 14 January should be: Select one: A. RM7,125 B. RM8,000 C. RM7,500 D. RM7,100 3. _______________ will cause the break-even in units to decrease. Select one: A. Increase in margin of safety B. Increase in total fixed expenses C. Decrease in unit variable expenses D. Decrease in selling price Just answer the question, no need explanation

1.Ahmad Jelani Enterprise produces ladies’ veils using the brand name ‘Taqwa’, which are specially designed for local market. The main fabrics are imported from Laos. Details of the product costing for the past 3 months are as follow: Quantity produced 3,000 units Actual fabrics price RM2.80/meter Standard fabrics price RM2.50/meter Actual quantity used 5.3 meters/unit Standard quantity used 5 meters/unit Actual labour rate RM4.50/hour Standard labour rate RM4.00/hour Actual labour hours 540 hours Standard labour hours 528 hours REQUIRED: Calculate the direct labour rate variance. Select one: A. RM264 U B. RM270 F C. RM270 U D. RM264 F 2. AG company purchased RM8,000 of merchandise on 5 January with credit terms 5/10, n/30. On 7 January, AG company returned RM500 worth of the merchandise. On 14 January, AG company paid the full amount due. The amount of the cash paid on 14 January should be: Select one: A. RM7,125 B. RM8,000 C. RM7,500 D. RM7,100 3. _______________ will cause the break-even in units to decrease. Select one: A. Increase in margin of safety B. Increase in total fixed expenses C. Decrease in unit variable expenses D. Decrease in selling price Just answer the question, no need explanation

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%
1.Ahmad Jelani Enterprise produces ladies’ veils using the brand name ‘Taqwa’, which are specially designed for local market. The main fabrics are imported from Laos. Details of the product costing for the past 3 months are as follow: Quantity produced 3,000 units Actual fabrics price RM2.80/meter Standard fabrics price RM2.50/meter Actual quantity used 5.3 meters/unit Standard quantity used 5 meters/unit Actual labour rate RM4.50/hour Standard labour rate RM4.00/hour Actual labour hours 540 hours Standard labour hours 528 hours REQUIRED: Calculate the direct labour rate variance. Select one: A. RM264 U B. RM270 F C. RM270 U D. RM264 F 2. AG company purchased RM8,000 of merchandise on 5 January with credit terms 5/10, n/30. On 7 January, AG company returned RM500 worth of the merchandise. On 14 January, AG company paid the full amount due. The amount of the cash paid on 14 January should be: Select one: A. RM7,125 B. RM8,000 C. RM7,500 D. RM7,100 3. _______________ will cause the break-even in units to decrease. Select one: A. Increase in margin of safety B. Increase in total fixed expenses C. Decrease in unit variable expenses D. Decrease in selling price Just answer the question, no need explanation
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS