a) Appiah company is a manufacturer of office desks . it uses a standard absorption costing system to monitor performance of managers and departments. a standard absorption cost card for one of its models, the premium , is given below:

GHS GHS

selling price 320

Productions costs:

direct material (12metres@ Ghs 2.50 per meters) 30

direct labour (5hours @ Ghs 7.00 per hours) 35

variable overhead (5 hours @ Ghs 20.00 per hour) 100

fixed overhead (5 hours @ Ghs 15.00 per hour) 75 240

80

Budgeted 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 as follows.

sales 1,400 office desks @ Ghs 300 each

production 1,500 office desks

direct material (purchased and used) 18,200 meters @ Ghs 2.20 per meter

Direct labour (worked and paid) 6,000 hours @ Ghs 7.00 per hour

Variable overheads Ghs 125,000

fixed overheads Ghs 102,000

There were no opening inventories of finished goods

REQUIRED

Determine the variance for the following:

i) Direct material price

ii) Direct material usage

iii) Direct labour rate

iv) Direct efficiency

v) Variable overhead expenditure

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 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.