Questions from General Accounting

Q: Accountants stifle managerial initiative and enterprise.’ Discuss.

Accountants stifle managerial initiative and enterprise.’ Discuss.

Q: Do you think it is important for a CEO of a big

Do you think it is important for a CEO of a big business to have a sound understanding of finance and accounting?

Q: Sales variance calculations are just another example of accountants playing around with

Sales variance calculations are just another example of accountants playing around with numbers.’ Discuss.

Q: The following information relates to Malcolm Limited: Budgeted production:

The following information relates to Malcolm Limited: Budgeted production: 100 units. Unit specification (direct materials): 50 kilograms * £5 per kilogram = £250. Actual production: 120 units. Dir...

Q: You are presented with the following information for Duncan Limited:

You are presented with the following information for Duncan Limited: Budgeted production: 1000 units. Actual production: 1200 units. Standard specification for one unit: 10 hours at £8 per direct labo...

Q: The following information relates to Osprey Limited: Budgeted production:

The following information relates to Osprey Limited: Budgeted production: 500 units. Standard hours per unit: 10. Actual production: 600 units. Budgeted fixed overhead: £125,000. Actual fixed overhead...

Q: Using the data from the previous question, calculate the following performance

Using the data from the previous question, calculate the following performance measures: (a) Efficiency ratio (b) Capacity ratio (c) Production volume ratio.

Q: You are presented with the following budgeted information for Doe Limited:

You are presented with the following budgeted information for Doe Limited: Required: Calculate the sales variances.

Q: The budgeted selling price and standard cost of a unit manufactured by

The budgeted selling price and standard cost of a unit manufactured by Smillie Limited is as follows: Total budgeted sales: 400 units During the period to 31 December 2021, the actual sales and produc...

Q: Mean Limited manufactures a single product, and the following information relates

Mean Limited manufactures a single product, and the following information relates to the actual selling price and actual cost of the product for the four weeks to 31 March 2020: The budgeted selling p...