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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:

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Q. Under absorption costing, managerial decisions are based on

Q. Sales for desired profit is measured as

Q. The budget that summarize future plans for acquisition of plant facilities and equipment is the

Q. The Funds required by way of permanent working capital should be provided by __________.

Q. Budgetary control provides a basis for…

Q. Volume variance arises when

Q. Equity includes --------------

Q. Profit for the objective of calculating a ratio may be taken as