Answer the Following Question(s)using the Information Below

question 119

Multiple Choice

Answer the following question(s) using the information below.Abernathy Corporation used the following data to evaluate their current operating system.The company sells items for $10 each and used a budgeted selling price of $10 per unit.
-What is the static-budget variance of revenues?

• A)$20,000 favourable
• B)$20,000 unfavourable
• C)$2,000 favourable
• D)$2,000 unfavourable
• E)$25,000 unfavourable

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Definitions:

Subsidiary Ledger

A ledger containing detailed information for accounts in the general ledger, such as customers or inventory, facilitating more detailed tracking and management.

Accounts Receivable

Money owed to a company by its customers for goods or services delivered or used but not yet paid for.

Worksheet

An informal accounting document used inside an organization, facilitating the preparation of financial statements and supporting the adjustment process at the end of an accounting period.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in net income.