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Coderre Corporation manufactures and sells a single product.The company uses units as the measure of activity in its budgets and performance reports.During July, the company budgeted for 7, 800 units, but its actual level of activity was 7, 780 units.The company has provided the following data concerning the formulas used in its budgeting and its actual results for July: Data used in budgeting: Actual results for July:
The revenue variance for July would be closest to:
Journal Entry
A notation in financial records that captures the debit and credit movements across accounts resulting from business transactions.
Fair Value
An estimate of the market value of an asset or liability, based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.
Valuing Assets
The process of determining the present worth of an asset or company.
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