Costs:Direct materials (17 560 kilos) 119 408 Direct labour (23 000 hours) 233 450Fixed overheads 70 000 Required; (a) Calculate the following variances also state wheth are favourable or un - Favourable. (1)quantity (the difference between the profits expected on 10 000 units and the profit which would be expected on 18 000 units); (ii)sale price (iii)direct material usage and price:(iv) Direct labour efficiency and rate (b)Prepare a financial statement reconciling the expected profit to the actual profit showing

Costs:Direct materials (17 560 kilos) 119 408 Direct labour (23 000 hours) 233 450Fixed overheads 70 000 Required; (a) Calculate the following variances also state wheth are favourable or un - Favourable. (1)quantity (the difference between the profits expected on 10 000 units and the profit which would be expected on 18 000 units); (ii)sale price (iii)direct material usage and price:(iv) Direct labour efficiency and rate (b)Prepare a financial statement reconciling the expected profit to the actual profit showing

Name: Following is the information about cost system of K and A Ltd. For th
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Description: Following is the information about cost system of K and A Ltd. For the year ended 31 October 1998. Estimate of revenue and costs for 10 000 units. $Revenue 300 000Costs:Direct materials (10 000 kilos) 60 000 Direct labour (at $11 per hour) 132 000Fi

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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