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VICAccountingQuick questions
Unit 4: Recording, reporting, budgeting and decision-making
Quick questions on Variance reports and budgetary control (VCE Accounting Unit 4)
1short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is net effect on profit?Show answer
Favourable 8,000 (sales) minus unfavourable 6,000 (cost of sales) plus favourable 2,000 (wages) = a net favourable variance of 4,000 dollars, so actual profit beat budget by 4,000 dollars.
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