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Pankhurst PLC make and sell a single product. Annual sales in units for 2022 are expected to be 210,000, and standard cost and selling price per unit is: Selling price Variable costs: Materials Labour Overheads 42 30 882 8

Pankhurst PLC make and sell a single product. Annual sales in units for 2022 are expected to be 210,000, and standard cost and selling price per unit is: Selling price Variable costs: Materials Labour Overheads 42 30 882 8

FINANCIAL ACCOUNTING
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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Pankhurst PLC make and sell a single product. Annual sales in units for 2022 are expected to be 210,000, and standard cost and selling price per unit is: £ 30 Selling price Variable costs: Materials Labour Overheads Annual fixed overheads for 2022 are budgeted at: Manufacturing: 528,000 Non-manufacturing 336,000 Actual production and sales for the month of January was 16,000 units. The actual revenue and expenditure for the month of January 2022 was as follows: Sales revenue 502,000 Expenditure: Materials 118,500 Labour 125,500 32,400 Variable overhead Fixed overheads: Manufacturing Non-manufacturing 40,000 35,000 Pankhurst PLC divides the annual budget by 12 in order to produce monthly control reports. Required: a) Prepare the monthly control report showing original budget, flexed budget and variances. 882
Transcribed Image Text:Pankhurst PLC make and sell a single product. Annual sales in units for 2022 are expected to be 210,000, and standard cost and selling price per unit is: £ 30 Selling price Variable costs: Materials Labour Overheads Annual fixed overheads for 2022 are budgeted at: Manufacturing: 528,000 Non-manufacturing 336,000 Actual production and sales for the month of January was 16,000 units. The actual revenue and expenditure for the month of January 2022 was as follows: Sales revenue 502,000 Expenditure: Materials 118,500 Labour 125,500 32,400 Variable overhead Fixed overheads: Manufacturing Non-manufacturing 40,000 35,000 Pankhurst PLC divides the annual budget by 12 in order to produce monthly control reports. Required: a) Prepare the monthly control report showing original budget, flexed budget and variances. 882
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