The following standard costs were developed for one of the products of ELJAY Sdn Bhd (ESB): STANDARD COST PER UNIT RM 12.00 3 feet @ RM4.00 per foot 5 hours @ RM8.00 per hour 5 hours a RM4.00 per hour 5 hours @ RM6.00 per hour Direct materials Direct labor Variable overhead Fixed overhend Total standard cost per unit 40.00 20.00 30.00 102.00 The following information is available regarding the company's operations for the period: Units produced Materials purchased Materials used Direct labor Overhead incurred: 40,000 240,000 feet at RM4,40 per foot 220,000 hours at RM8.30 per hour Variable Fixed RM770,000 RM900,000 Budgeted fixed overhead for the period is RM960,000, and the standard fixed overhead rate is based on the expected capacity of 160,000 direct labor hours. REQUIRED: (a) Compute the following variances. Indicate whether it is Favorable (F) or Unfavorable (UF) variance. ) material price variance

The following standard costs were developed for one of the products of ELJAY Sdn Bhd (ESB): STANDARD COST PER UNIT RM 12.00 3 feet @ RM4.00 per foot 5 hours @ RM8.00 per hour 5 hours a RM4.00 per hour 5 hours @ RM6.00 per hour Direct materials Direct labor Variable overhead Fixed overhend Total standard cost per unit 40.00 20.00 30.00 102.00 The following information is available regarding the company's operations for the period: Units produced Materials purchased Materials used Direct labor Overhead incurred: 40,000 240,000 feet at RM4,40 per foot 220,000 hours at RM8.30 per hour Variable Fixed RM770,000 RM900,000 Budgeted fixed overhead for the period is RM960,000, and the standard fixed overhead rate is based on the expected capacity of 160,000 direct labor hours. REQUIRED: (a) Compute the following variances. Indicate whether it is Favorable (F) or Unfavorable (UF) variance. ) material price variance

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Description: The following standard costs were developed for one of the products of ELJAY Sdn Bhd(ESB):STANDARD COST PER UNITRMDirect materialsDirect labor3 feet @ RM4.00 per foot5 hours @ RM8.00 per hour5 hours @ RM4.00 per hour5 hours @ RM6.00 per hour12.0040.

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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