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1 When preparing flexible budget, the following information is for ABC Corporation: Direct Materials (measured in pounds) Standard price per unit of input $20 Actual price per unit of input $18 Standard inputs per unit of output 3 pounds Actual units of input 8,300 pounds Actual units of output 2,770 units What is the flexible budget variance for direct materials? Select one: a
1 When preparing flexible budget, the following information is for ABC Corporation: Direct Materials (measured in pounds) Standard price per unit of input $20 Actual price per unit of input $18 Standard inputs per unit of output 3 pounds Actual units of input 8,300 pounds Actual units of output 2,770 units What is the flexible budget variance for direct materials? Select one: a. $16,800 Unfavorable b. $16,400 Favorable c. $16,400 Unfavorable d. $16,800 Favorable
2
A company that is compliant with all the ASX Corporate Governance Recommendations is not likely to be subject to corporate failure. Do you agree?
Expert Solution
1
| Standard Price | Actual Output | Input | Cost | |
| (A) | (B) | (A) x (B) | ||
| Flexible Budget | 20.00 | 2,770 | 8,310 | 166,200 |
| Actual Cost | 18.00 | 8,300 | 149,400 | |
| Flexible Budget Variance | 16,800 (F) |
Option (d) $ 16,800 Favorable
2
Answer: No
There may be failure although the corporate governance is there.
This is the set of processes, rules, and relationships within which a listed company on the ASX must operate. This is the way of managing and controlling those listed companies so that investors can protect their interests. Shareholders are investors and they get confidence by the recommendation of ASX.
Corporate success or failure depends on day-to-day operation of the business. Therefore, failure may still be there and it can’t be stopped fully.
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