From the Following Credit Card Transactions, Find the Credit-Card Sales

question 11

Multiple Choice

From the following credit card transactions, find the credit-card sales less refunds. Then find the amount of the charge at the statement date.
-Cross Town Florists pays a 4% fee.

• A)$702.41, $28.10
• B)$692.41, $27.70
• C)$812.14, $32.49
• D)$921.87, $36.87

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Definitions:

Favorable Cost Variance

A situation where the actual cost of a product or service is less than its budgeted or standard cost.

Direct Materials Price Variance

The difference between the actual cost of direct materials used and the budgeted cost, based on the standard prices.

Direct Materials Quantity Variance

The deviation of the actual direct materials amount utilized in manufacturing from the expected standard amount, times the set cost per unit.

Standard Price

The predetermined cost of a single unit of product or service, used in budgeting and to measure efficiency.