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Tamar is a single product firm and holds no inventories. The standard net profit per unit based on a monthly report budget of 1,000 units, is calculated as follows:
A flexible budget for the actual output achieved in March showed a budgeted net profit of $4,000. Fixed costs were as budgeted. All other figures for March were as standard except for the following: Labour rate paid – $6,50 per hour Materials used – 4,60 kg per unit The firm uses marginal costing principles to set its budget. What was the actual profit for March? $________ (to nearest $10) |