Fundamentals of management accounting Practice Questions
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Fundamentals of management accounting Questions and Answers
An organisation produces and sells a single product. The organisation’s management accountant has reported the following information for the most recent period.
Which TWO of the following statements are valid? (Choose two.)
The International Federation of Accountants (IFAC) stated that it was important that “accountants in business” should understand what the drivers of stakeholder value are. Which of the following statements is valid?
The following data are available for a company that produces and sells a single product.
The company’s opening finished goods inventory was 2,500 units.
The fixed overhead absorption rate is $8.00 per unit.
The profit calculated using marginal costing is $16,000.
The profit calculated using absorption costing and valuing its inventory at standard cost is $22,400.
The company’s closing finished goods inventory is: