Question
Answer must be typed in word or in excel Original Budget Actual Units produced 1,000 units 970 units Materials (kg) 400 kg 409 kg Material
Answer must be typed in word or in excel
|
| Original Budget | Actual |
| Units produced | 1,000 units | 970 units |
| Materials (kg) | 400 kg | 409 kg |
| Material Costs | $8,000 | See other info |
| Direct Labour (Hours) | 36,000 hours | 34,010 hours |
| Direct Labour Costs | $385,000 | $365,750 |
| Variable Overhead Costs | $255,000 | $245,000 |
| Fixed Overhead Costs | $160,000 | $165,000 |
Other Information
Overhead is Allocated on Direct Labour Hours
During the year, 500 kg of materials were purchased for $9,000
Beginning Inventory: none
Ending Inventory: 91kg
Required:
Calculate the following variances:
- Material Rate
- Material Efficiency
- Labour Price
- Labour Efficiency
- Variable Overhaed Rate
- Variable Overhead Efficiency
- Fixed Overhead Rate
- Fixed Overhead Production Volume
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The Consolations Of Economics How We Will All Benefit From The New World Order
Authors: Gerard Lyons
1st Edition
0571307795, 9780571307791
