Fablus Limited makes a single product, the NL. It operates a standard absorption costing system. The budget
Question:
Actual results for 2012:
Number of NLs actually made = 452,000 which were sold at £0.30 each.
Required:
Assuming there were no opening or closing stocks, calculate as many variances as the information will allow and present them in the form of an operating statement reconciling the actual and budget profits.
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Related Book For
Managerial Accounting Decision Making and Performance Management
ISBN: 978-0273764489
4th edition
Authors: Ray Proctor
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