The Following Information Was Derived from the 2010 Accounting Records

question 29

Multiple Choice

The following information was derived from the 2010 accounting records of Perez Co.: Perez's 2010 cost of sales was

• A)$570,000.
• B)$600,000.
• C)$634,000.
• D)$639,000.

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Definitions:

Wages And Salaries

Remuneration provided to workers for their work, encompassing both wages by the hour and set salaries.

Spending Variance

A financial metric indicating the difference between the budgeted or planned amount of expenses and the actual amount spent.

Net Operating Income

A company's profit after subtracting its operating expenses, excluding taxes and interest.

Revenue And Spending Variances

The differences between actual and budgeted amounts for revenue and expenditures, which are analyzed to manage financial performance.