Answer with explanation this accounting Problem QUESTION [25]Manac Ltd manufactures clothing and uses a standard costing system.The following is the standard variable cost for one of their products:RMaterial @ R8.00 per kg20.00Labour @ 1.5 hrs22.50Variable overheads-varying with hours worked: 1.5 hrs @ R6.00 per hour9.00-varying with production7.00Budgeted sales - 11 700 unitsActual results are as follows:Materials purchased 32 000 kgR262 400Labour (Rate per hour R16.00)R304 000Variable overheads-varying with hours worked-varying with productionSalesR108 300R 78 000R624 000Additional information:The budgeted selling price is R50.00 per unit.1. 12 000 units were manufactured and sold.2. There were no completed units, work in progress or material on hand at thebeginning or end of the period.1. Material price varianceRequired:(5)Calculate and state whether the following variances are favourable /unfavourable:1. Material quantity variance2. Labour rate variance3. Labour efficiency variance4. Selling price variance(5)(5)(5)(5)

Approach to solving the question: Review and Anaysis Detailed explanation:Material Price Variance…

Answered: QUESTION [25] Manac Ltd manufactures…

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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Vishanu
Sheridan Company manufactures and sells two products. Relevant per unit data concerning each product follow. Selling price Variable costs Machine hours (a) Product Basic $42.0 $24.0 0.5 Deluxe $55.0 $29.4 x Your answer is incorrect. 0.8 Compute the contribution margin per machine hour for each product. Contribution margin per machine hour $ Basic 40 $ Deluxe 51 F
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JSON-5313 Inc. produces Products X5, Y8, and Z9. The following table provides per unit information relating to the three products: Product Y8 X5 Z9 Selling price $ 72.00 $ 54.00 $ 62.00 Variable expenses: Direct materials 21.60 18.00 9.00 21.60 22.50 34.40 43.20 43.40 Other variable expenses Total variable expenses Contribution margin Contribution margin ratio 40.50 $13.50 $28.80 $18.60 40% 25% 30% JSON-5313 has enough demand to sell 700 units of each product per month. Each product requires the same direct materials in its production. The direct materials cost $3 per pound. The company will at most have 4,800 pounds of the direct materials available every month. What is the maximum contribution margin that JSON-5313 can earn per month using its 4,800 pounds of direct materials optimally? O $ 10,800 O $ 13,020 O $ 23,820 O $ 26,320
A company’s product sells for $150 and has variable costs of $60 associated with the product. What is its contribution margin per unit?A. $40B. $60C. $90D. $150
e. OMR10 Company XYZ produced and sold 5,000 units. The selling price per unit was OMR7. The variable manufacturing cost per unit was OMR3. The variable selling and administrative expenses per unit was OMR2. The total fixed expenses were OMR2,000. Calculate the total contribution margin. Select one: a. OMR35,000 Ob. OMR33,000 Oc. OMR25,000 O d. OMR10,000 De. OMR20,000 Next page
Answer the question Question 4 Company C makes and sells three types of products for which the following information is available: Standard cost and selling prices per unit: 'X' 'Y' 'Z' (RM) Product type (RM) (RM) Direct material 110 153 Direct labour department 140 Direct labour department 22d. Variable overheads Selling price 55 70 www 32 44 www 20 28 250 320 458 Fixed costs for the period are RM400,000. Direct labour from department 2, which is highly skilled, is available for 25,000 hours only in a period and is paid RM8 per hour. Both, direct labour from departments 1 and 2 are variable costs. The maximum demand for the product is: 'Z' 2,000 units 3,000 units 1,800 units 'X' 'Y' Required: (a) Calculate the shortage in hours of direct Jabour from department 2. www (b) Calculate the best production plan and the maximum profit that could be achieved from the plan.
JSON-2603 Inc. produces Products X5, Y8, and Z9. The following table provides per unit information relating to the three products: Product Y8 X5 Z9 $ 90.00 $ 66.00 $ 80.00 Selling price Variable expenses: Direct materials 18.00 27.00 27.00 54.00 Other variable expenses Total variable expenses Contribution margin 31.50 9.00 47.00 56.00 $ 24.00 49.50 $36.00 $16.50 Contribution margin ratio 40% 25% 30% JSON-2603 has enough demand to sell 700 units of each product per month. Each product requires the same direct materials in its production. The direct materials cost $3 per pound. The company will at most have 5,700 pounds of the direct materials available every month. What is the maximum contribution margin that JSON-2603 can earn per month using its 5,700 pounds of direct materials optimally? Ⓒ$ 31,200 $ 33,700 Ⓒ$ 16,800 Ⓒ$ 14,400
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Question 1: Pamlico Manufacturing Ltd has the following information given in the table below. Sales per unit Variable production cost per unit 12.50 7.50 Variable administration sales and distribution per 1.00 unit Fixed production costs 37 500 Fixed administration sales and distribution 18 750 Opening inventory in units Units produced 2 500 25 000 At the beginning of December 2018, there were 2 500 units in inventory. Required: Draw up a statement of comprehensive income according to marginal costing principles for three different levels of sales, for the month of December a) 12 500 units b) 18 750 units c) 25 000 units Question 2 Using the above information on Pamlico Manufacturing Ltd, prepare the statement of comprehensive income using absorption costing principles for the month of December and assume the following: 1. Normal level of activity is 25 000 shirts per month. 2. Fixed production costs were 37 500 for the month.

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