Q#4: Following is the information of Zafar corporation for the month of January 2019.STANDARDACTUALVarianceТЕMSCOSTCOSTFavourable UnFavourableRs.Rs.Rs.Rs.D.Material?90,000Price Variance7,000Quantity Variance5,000Direct Labour160,000Rate Variance4,500Efficiency Variance10,500FOH cost160,000Controllable variance10,000Volume Variance16,000REQUIRED:-Find out the missing figure of the table2. Record journal entries and close variance accounts.1.

Direct Material Cost Variance = Direct Material Price variance + Direct Material Quantity Variance…

Q#4: Following is the information of Zafar corporation for the month of January 2019. STANDARD ACTUAL Variance ITEMS COST COST Favourable UnFavourable Rs. Rs. Rs. Rs. D.Material Price Variance Quantity Variance ? 90,000 7,000 5,000 Direct Labour ? 160,000 Rate Variance 4,500 Efficiency Variance 10,500 FOH cost 160,000 ? Controllable variance Volume Variance 10,000 16,000 REQUIRED:- 1. Find out the missing figure of the table

Q#4: Following is the information of Zafar corporation for the month of January 2019. STANDARD ACTUAL Variance ITEMS COST COST Favourable UnFavourable Rs. Rs. Rs. Rs. D.Material Price Variance Quantity Variance ? 90,000 7,000 5,000 Direct Labour ? 160,000 Rate Variance 4,500 Efficiency Variance 10,500 FOH cost 160,000 ? Controllable variance Volume Variance 10,000 16,000 REQUIRED:- 1. Find out the missing figure of the table

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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$6.00 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Controllable variance Volume variance Total factory overhead cost variance %24 %24 %24
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