Author Question: The revenue journal is designed for the efficient recording of cash sales transactions. a. True b. ... (Read 102 times)

kamilo84 · **on:** Jul 5, 2018

The revenue journal is designed for the efficient recording of cash sales transactions.
a. True
b. False

Indicate whether the statement is true or false

Question 2

What is the static-budget variance of revenues?

Contrafic Corporation used the following data to evaluate its current operating system. The company sells items for 21 each and used a budgeted selling price of 21 per unit.

Actual Budgeted
Units sold 180,000 units 185,000 units
Variable costs 1,080,000 1,295,000
Fixed costs 800,000 775,000

A) 105,000 favorable
B) 105,000 unfavorable
C) 8,000 favorable
D) 8,000 unfavorable