ANSWER ALL QUESTIONS ABC Limited information is as follows Budgeted production and sales 24000 units P P Sales 840,000 Less costs Materials (720000 meters P0 75 meter) 540000 Labour (43200 hours P1 90 hour) 82080 Variable overheads 41280 Selling costs (P12000 P0 20 x 24000 units) 16800 680160 Profit 159840 In that period, 43680 hours were worked and 22400 units were produced and sold 627200 meters of materials were utilized The actual results for that period is given below P P Sales 833280 Less Costs Materials 564480 Labour 82992 Variable overheads 35840 Selling costs 16480 699792 Profit 133488 Using the above information prepare a flexed budget for actual activity and variance report based on flexed budget and also calculate the material price variance, usage variance, labour rate and efficiency variance Give possible reasons for materials variances and labour variances (20 marks) ANSWER ALL QUESTIONS ABC Limited information is as follows Budgeted production and sales 24000 units P P Sales 840,000 Less costs Materials (720000 meters P0 75 meter) 540000 Labour (43200 hours P1 90 hour) 82080 Variable overheads 41280 Selling costs (P12000 P0 20 x 24000 units) 16800 680160 Profit 159840 In that period, 43680 hours were worked and 22400 units were produced and sold 627200 meters of materials were utilized The actual results for that period is given below P P Sales 833280 Less Costs Materials 564480 Labour 82992 Variable overheads 35840 Selling costs 16480 699792 Profit 133488 Using the above information prepare a flexed budget for actual activity and variance report based on flexed budget and also calculate the material price variance, usage variance, labour rate and efficiency variance Give possible reasons for materials variances and labour variances (20 marks)v ANSWER ALL QUESTIONS ABC Limited information is as follows Budgeted production and sales 24000 units P P Sales 840,000 Less costs Materials (720000 meters P0 75 meter) 540000 Labour (43200 hours P1 90 hour) 82080 Variable overheads 41280 Selling costs (P12000 P0 20 x 24000 units) 16800 680160 Profit 159840 In that period, 43680 hours were worked and 22400 units were produced and sold 627200 meters of materials were utilized The actual results for that period is given below P P Sales 833280 Less Costs Materials 564480 Labour 82992 Variable overheads 35840 Selling costs 16480 699792 Profit 133488 Using the above information prepare a flexed budget for actual activity and variance report based on flexed budget and also calculate the material price variance, usage variance, labour rate and efficiency variance Give possible reasons for materials variances and labour variances (20 marks)

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ANSWER ALL QUESTIONS ABC Limited information is as follows  Budgeted production and sales 24000 units P P Sales 840,000 Less  costs Materials (720000 meters   P0 75 meter) 540000 Labour (43200 hours   P1 90 hour) 82080 Variable overheads 41280 Selling costs (P12000   P0 20 x 24000 units)    16800  680160 Profit   159840 In that period, 43680 hours were worked and 22400 units were produced and sold  627200 meters of materials were utilized  The actual results for that period is given below  P P Sales 833280 Less  Costs Materials 564480 Labour 82992 Variable overheads 35840 Selling costs   16480 699792 Profit  133488 Using the above information prepare a flexed budget for actual activity and variance report based on flexed budget and also calculate the material price variance, usage variance, labour rate and efficiency variance  Give possible reasons for materials variances and labour variances  (20 marks) ANSWER ALL QUESTIONS ABC Limited information is as follows  Budgeted production and sales 24000 units P P Sales 840,000 Less  costs Materials (720000 meters   P0 75 meter) 540000 Labour (43200 hours   P1 90 hour) 82080 Variable overheads 41280 Selling costs (P12000   P0 20 x 24000 units)    16800  680160 Profit   159840 In that period, 43680 hours were worked and 22400 units were produced and sold  627200 meters of materials were utilized  The actual results for that period is given below  P P Sales 833280 Less  Costs Materials 564480 Labour 82992 Variable overheads 35840 Selling costs   16480 699792 Profit  133488 Using the above information prepare a flexed budget for actual activity and variance report based on flexed budget and also calculate the material price variance, usage variance, labour rate and efficiency variance  Give possible reasons for materials variances and labour variances  (20 marks)v ANSWER ALL QUESTIONS ABC Limited information is as follows  Budgeted production and sales 24000 units P P Sales 840,000 Less  costs Materials (720000 meters   P0 75 meter) 540000 Labour (43200 hours   P1 90 hour) 82080 Variable overheads 41280 Selling costs (P12000   P0 20 x 24000 units)    16800  680160 Profit   159840 In that period, 43680 hours were worked and 22400 units were produced and sold  627200 meters of materials were utilized  The actual results for that period is given below  P P Sales 833280 Less  Costs Materials 564480 Labour 82992 Variable overheads 35840 Selling costs   16480 699792 Profit  133488 Using the above information prepare a flexed budget for actual activity and variance report based on flexed budget and also calculate the material price variance, usage variance, labour rate and efficiency variance  Give possible reasons for materials variances and labour variances  (20 marks)

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ANSWER ALL QUESTIONS ABC Limited information is as follows: Budgeted production and sales 24000 units P P Sales 840,000 Less: costs Materials (720000 meters @

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Budgeted production and sales	24000 units
	P	P
Sales		840,000
Less: costs
Materials (720000 meters @ P0.75/meter)	540000
Labour (43200 hours @ P1.90/hour)	82080
Variable overheads	41280
Selling costs (P12000 + P0.20 x 24000 units)	___16800	_680160
Profit		__159840

	P	P
Sales		833280
Less: Costs
Materials	564480
Labour	82992
Variable overheads	35840
Selling costs	__16480	699792
Profit		_133488