Winston Co

question 44

Multiple Choice

Winston Co.had two products code named X and Y.The firm had the following budget for August:
On September 1,the following operating results for August were reported:
Industry volume was estimated to be 120,000 units at the time of the budget.Actual industry volume for the period was 125,000 units.
The contribution margin sales volume variance for Product X is:

• A)$2,000 unfavorable.
• B)$6,000 favorable.
• C)$7,000 favorable.
• D)$7,000 unfavorable.
• E)$6,000 unfavorable.

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Definitions:

Loans

Sums of money borrowed that are expected to be paid back with interest, often under agreed-upon terms between lenders and borrowers.

Simple Interest

Interest earned or paid on the original principal only of a deposit or loan, without compounding.

Loan Repaid

The act of paying back borrowed money to the lender.

Borrowed

The state of having taken something on loan, often with the obligation to return it or repay an equivalent amount.