12:2544%Individual%20CW..nt%20accounting - SavedCOURSE WORK 1: IndividualQuestion One:Standard Cost for Product RSTMaterials (10kg x £20per kg)200Labour (5hrs x £16 per hr)80Variable Overheads (5hrs x £8 per hr) 40Fixed Overheads (5hrs x £9 per hr)45365Budgeted ResultsProduction1000 unitsSalesSelling PriceActual Results7500 units£800 per unitProduction8000 unitsSales6000 unitsMaterials85000 kg Cost £700000Labour36000 hrs Cost £330900Variable Overheads £400000Fixed Overheads£500000Selling Price£260 per uniti)Required: Calculatea)b)Material total varianceMaterial price variancec)d)Labour rate varianceSelling price varianceGive reasons why an organization would experience Favorable Materialprice Variance and Adverse Material Usage Variance.ii)Question Two::a) ABC Ltd budgets to make 25,000 standard units of the product in four (4) hours eachduring the budget period of 100,000 hours. The actual out put during the period was27,000 units which took 120,000 hours to make and finish. You are required to:i)ii)Calculate the efficiency ratio,ii) Capacity ratio,HI Droduction velume rntie...

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Question One: Standard Cost for Product RST Materials (10kg x £20per kg) 200 Labour (5hrs x £16 per hr) 80 Variable Overheads (5hrs x £8 per hr) 40 Fixed Overheads (5hrs x £9 per hr) 45 365 Budgeted Results Production 1000 units Sales 7500 units Selling Price £800 per unit Actual Results Production 8000 units Sales 6000 units Materials 85000 kg Cost £700000 Labour 36000 hrs Cost £330900 Variable Overheads £400000 Fixed Overheads £50000 Selling Price £260 per unit i) Required: Calculate a) b) c) d) Material total variance Material price variance Labour rate variance Selling price variance

Question One: Standard Cost for Product RST Materials (10kg x £20per kg) 200 Labour (5hrs x £16 per hr) 80 Variable Overheads (5hrs x £8 per hr) 40 Fixed Overheads (5hrs x £9 per hr) 45 365 Budgeted Results Production 1000 units Sales 7500 units Selling Price £800 per unit Actual Results Production 8000 units Sales 6000 units Materials 85000 kg Cost £700000 Labour 36000 hrs Cost £330900 Variable Overheads £400000 Fixed Overheads £50000 Selling Price £260 per unit i) Required: Calculate a) b) c) d) Material total variance Material price variance Labour rate variance Selling price variance

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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Ghaz Company produces two types of sound units: Deluxe and Regular. Activity data is as follows: Product-Costing Data Deluxe 5,000 RM39,000 5,000 10,000 10 Regular 50,000 RM369,000 45,000 90,000 Total 55,000 RM408,000 50,000 Activity Usage Measures Units produced per year Prime cost Direct labor hours 100,000 15 Machines hours Production runs Number of moves 120 60 180 Activity Cost Data (Overhead Activities) Cost (RM) 60,000 Activity driver Production runs Activity Setups Materials handling Number of moves 30,000 50,000 40,000 180,000 Machines hours Direct labor hours Power Testing Total Required: a) Calculate the consumption ratios for each activity. b) Choose group activity based on the consumption ratios. c) Calculate a rate for each pooled group of activities. d) Calculate unit product costs using the pool rates.
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Subject: Cost AccountingPlease answer the questions given. Thank you!
EXERCISE 1 XYZ Company has identified the following overhead activities, costs, and activity drivers for the coming year: Activity Expected Cost Activity Driver Activity Capacity $45,000 80,000 15,000 30,000 50,000 Number of moves Material-handling costs.. Machine costs... 450 Machine hours.. Number of orders. Number of parts.. Number of setups.. 20,000 Order costs.. 750 Receiving costs.. Setup costs.. 50,000 250 Assume that each activity corresponds to a process. XYZ's normal activity is 5,000 direct labor hours. The following two jobs were completed during March: Job X-1 Job Y-4 $1,500 $750 Direct materials $2,000 $750 Direct labor ($15 per hour)... Units completed... Number of moves. Machine hours.. Number of orders. Number of parts. Number of setups.. 200 200 3 6 125 75 3 12 200 800 1 4 Required: 1. Determine the unit cost for each job using direct labor hours to apply overhead.
1. X Company uses activity-based costing for Product B and Product D. The total estimated overhead cost for the parts administration activity pool was $550,000 and the expected activity was 2000 part types. If Product D requires 1200 part types, the amount of overhead allocated to product D for parts administration would be: a) $275,000 b) $300,000 c) $330,000 d) $345,000
PART D
Max Company has developed the following standards for one of its products: Direct materials 15 pounds ´ £16 per poundDirect labour 4 hours ´ £24 per hourVariable overhead 4 hours ´ £14 per hour The following activities occurred during the month of October: Materials purchased 10,000 pounds costing £170,000Materials used 7,200 poundsUnits produced 500 unitsDirect labour 2,300 hours at £23.60 per hourActual variable overhead £30,000 The company records materials price variances at the time of purchase. Refer to Figure 17-1. Max's variable standard cost per unit would be
PLEASE SHOW IT QUICKLY WITH WORK Question 4 TapauWare Sdn Bhd produces a food container that passes through two process which are Process X and Process Y. The following data given for the month of January 2021: Process X Process Y Materials (RM5 per kg) 7,500 Kg 5,000 Kg Labour cost RM 600 RM 1,000 General Overhead cost RM 900 RM 855 Normal Loss 20% 10% Scrap value per kg RM 4 RM 4 Actual output 5,750 Kg 10,000 Kg Required: Prepare the process account for Process X and Process Y
Vijay Company reports the following information regarding its production costs. Direct materials Direct labor $ 11.00 per unit 2$ 21.00 per unit Overhead costs for the year Variable overhead Fixed overhead 2$ 11.00 per unit $ 270,000 30,e00 units Units produced Compute its product cost per unit under absorption costing. (Round your answer t Product cost per unit