A favorable sales volume variance in sales revenue suggests a(n) ________
A) increase in actual sales price per unit as compared to budgeted sales price
B) increase in number of actual units sold when compared to the expected number of units sold
C) increase in actual variable cost per unit as compared to expected variable cost per unit
D) decrease in actual fixed costs
B
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Accrual accounting is an application of the matching rule
Indicate whether the statement is true or false
The following selected transactions relate to liabilities of Food Emporium whose fiscal year ends on December 31.January 26Negotiated a line of credit with City Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $1 million at the bank's prime rate.March 1Arranged a six-month bank loan of $400,000 with City Bank under the line of credit agreement. Interest at the prime rate of 8% is payable at maturity.September 1Paid the 8% note at maturity.
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The direct materials costs and direct labor costs incurred by a production department are referred to as conversion costs
Indicate whether the statement is true or false
List the main categories of voluntary benefits available to organizations.
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