Accounting Multiple Choice Question – 20 April 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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The cost of sales for a business comprises direct materials and direct labour.

At the end of a trading period the following variances are calculated.

If the actual cost of sales was £12,220, what is the standard cost of sales?

Select ONE answer:

  1. £12,020
  2. £12,120
  3. £12,320
  4. £12,420

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

  1. Correct ==> £12,220 – (£800 + £750) + (£700 + £650)
  2. Not correct
  3. Not correct
  4. Not correct

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