RequiredDetermine the variance for the following:i) Direct material priceii) Direct material usageiii) Direct labour rateiv) Direct labour efficiencyv) Variable overhead expenditure3vi) Variable overhead efficiencyvii) Fixed overhead expenditureviii) Sales volume (in terms of profit)ix) The aim behind a balanced scorecard is to provide a comprehensive framework for translating acompany's strategic objectives into a coherent set of performance measures. It allows managers tolook at the business from four (4) different perspectives.RequiredState and briefly explain the four different perspectives of the balance score card. a) Appiah Company is a manufacturer of office desks. It uses a standard absorption costing system tomonitor performance of managers and departments. A standard absorption cost card for one of itsmodels, the Premium, is given below.GH¢GH¢Selling price320Production costs:3035Direct material (12 metres @ GHe 2.50 per metre)Direct labour (5 hours @ GH¢ 7.00 per hour)Variable overhead (5 hours @ GHe 20.00 per hour)Fixed overhead (5 hours @ GHe 15.00 per hour)1007524080Budgeted production and sales are 1,200 Premium per month.Actual results for the production and sale of Premium office desks for the most recent month were asfollows.Sales1,400 office desks @ GH¢ 300 eachProduction1,500 office desksDirect material (purchased and used)18,200 metres @ GH¢ 2.20 per metreDirect labour (worked and paid)6,000 hours at GHe 7.00 per hourVariable overheadsGH¢ 125,000Fixed overheadsGH¢ 102,000There were no opening inventories of finished goods.

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Required Determine the variance for the following: i) Direct material price ii) Direct material usage iii) Direct labour rate iv) Direct labour efficiency v) Variable overhead expenditure 3 vi) Variable overhead efficiency vii) Fixed overhead expenditure viii) Sales volume (in terms of profit) ix) The aim behind a balanced scorecard is to provide a comprehensive framework for translating a company's strategic objectives into a coherent set of performance measures. It allows managers to look at the business from four (4) different perspectives. Required State and briefly explain the four different perspectives of the balance score card.

Required Determine the variance for the following: i) Direct material price ii) Direct material usage iii) Direct labour rate iv) Direct labour efficiency v) Variable overhead expenditure 3 vi) Variable overhead efficiency vii) Fixed overhead expenditure viii) Sales volume (in terms of profit) ix) The aim behind a balanced scorecard is to provide a comprehensive framework for translating a company's strategic objectives into a coherent set of performance measures. It allows managers to look at the business from four (4) different perspectives. Required State and briefly explain the four different perspectives of the balance score card.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 5PB: Wrappers Tape makes two products: Simple and Removable. It estimates it will produce 369,991 units...

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1. Compute the product margins for the XT-100 and LT-200 under the company’s traditional costing system. 2. Compute the product margins for XT-100 and LT-200 under the activity-based costing system.
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