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Q. Material price, mix, usage and revised quantity variances are measured on _______ basis, whereas material yield variance is measured on _______ basis.

Q. The area of focus on responsibility center is

Q. The prime function of financial accounting is to

Q. The formula to estimate Labour Mix variance is

Q. Which matters are taken into consideration while preparing production budget ?

Q. When contribution is positive but equal to fixed cost,

Q. Profit plan(or budget) is a

Q. If the actual price input is $700, the budgeted price of input is $400 and the actual quantity of input are 50 units, then the price variance will be

Q. The corrective actions after the analysis of variances has to be taken by

Q. The Carl Care Company established the following direct labour cost standards for one unit of product Z: •Standard hours: 1.5 hours •Standard rate: $20 per hour •Standard cost: $30 (1.5 hours @ $20 per hour) During the month of July, 20,000 direct labour hours were worked, and 12,500 units of product Z were manufactured. The total wages related to direct labour in July were $405,000. The direct labour rate variance for July was: