Group. II. Doints) The company SANTA CLARA, Lda, located in the district of Coimbra, dedicated to the production of product and adopts the budgeted costing system From the budget for the year 2020, the following information was taken for the month of May Production of Al Product Consumption per unit Units Unit Cost Un Consumption Raw Materials MP1 Tonn 4,00 MP2 Tonn 2,00 1,9 Transformation Costs C1 Hh 8,60 0.25 C2 Hm 7,60 04 1.1 A produo acabada prevista de 300 unidades, A empresa prev um inventrio final de 40 unidades. O preo de venda unitrio estimado de 18,00 . Os dados reais referentes ao mes de maio de 2020 so os seguintes: Consumos e compras de matrias: Matrias Unidade Fisica Custo unitrio Compras Consumos MP1 4,30 350 320 MP2 Ton 2,20 650 640 Ton . Atividade e gastos dos centros: Centros Unidade fisica C1 Man Hours C2 Machinery Hours Atividade 88 134,4 Gastos (6) 765,60 1008,00 - There is no opening and closing inventory of finished product. - 320 units of A were sold at a unit selling price of 20.00. On the basis of the information presented, it is intended that: 1. Determine the variances in purchases (MP1, MP2 and total), plants (C1, C2 2 total) and production. Analyse the nature of the deviation obtained. 2. Prepare the Income Statement by Functions for the month of May 2020, the Budgeted Costing system. Opening balance sheet data for 2020 Tangible fixed assets 380,000.00 Trade receivables 3,000.00 Cash and bank deposits 20,000.00 Financial Assets (applications) 1.000.00 Paid up capital 120,000.00 Financing obtained (M/L term) 80,000.00 Suppliers 9,000.00 Other Information: Activity takes place evenly throughout the year, consider a 360-day business year. Social Security payments are made in the following month consider the 23% rate on the company's account and the 11% withholding tax Holiday and Christmas subsidies are paid in July and December, respectively. Consider also the 10% withholding at source for IRS, in this case the payment to the State is also made in the following month The maturity of the loan in the opening balance sheet is 4 years, Loan repayments and interest are due half-yearly, paid in July and November, and the annual Interest rate is 6W, W necessary the company can take out a credit line that bears interest every four months at 3%, paid in the four months following its use; Excess funds can be applied at the interest rate of 2% per four months, received in the four months following its use. The company intends to have 18.000.00 euros available in each four months Based on the information, it is intended that you complete the cash budget with the missing amounts, as well as draw up the financial budget. Group II (04 points) Based on the Standard Costing system tick the correct answer to the following statements: 01. Activity variance (of a cost centre) is favourable whenever: a) The actual activity is higher than the monthly standard activity b) The centre's actual activity is greater than one-twelfth of the predicted standard activity c) The previous two statements are true. Both the above statements are false. Q2. The following data is known regarding the month's consumptions. consumption of 3 tonnes at a unit acquisition cost of ???C/tonne, for a production of 1000 units of product given month. Knowing that the material deviation is unfavourable and equal to 63,000, that the standard consumption quantity was 0.3 tonnes, and that the standard purchase price is 130.00/tonne, state the standard price of the material, justifying the a with calculations: (a) 140.00/tonne. 137.50 /tonne (c) 147.50 EUR/tonne 11 Annther value. Which is it? Group. II. Doints) The company SANTA CLARA, Lda, located in the district of Coimbra, dedicated to the production of product and adopts the budgeted costing system From the budget for the year 2020, the following information was taken for the month of May Production of Al Product Consumption per unit Units Unit Cost Un Consumption Raw Materials MP1 Tonn 4,00 MP2 Tonn 2,00 1,9 Transformation Costs C1 Hh 8,60 0.25 C2 Hm 7,60 04 1.1 A produo acabada prevista de 300 unidades, A empresa prev um inventrio final de 40 unidades. O preo de venda unitrio estimado de 18,00 . Os dados reais referentes ao mes de maio de 2020 so os seguintes: Consumos e compras de matrias: Matrias Unidade Fisica Custo unitrio Compras Consumos MP1 4,30 350 320 MP2 Ton 2,20 650 640 Ton . Atividade e gastos dos centros: Centros Unidade fisica C1 Man Hours C2 Machinery Hours Atividade 88 134,4 Gastos (6) 765,60 1008,00 - There is no opening and closing inventory of finished product. - 320 units of A were sold at a unit selling price of 20.00. On the basis of the information presented, it is intended that: 1. Determine the variances in purchases (MP1, MP2 and total), plants (C1, C2 2 total) and production. Analyse the nature of the deviation obtained. 2. Prepare the Income Statement by Functions for the month of May 2020, the Budgeted Costing system. Opening balance sheet data for 2020 Tangible fixed assets 380,000.00 Trade receivables 3,000.00 Cash and bank deposits 20,000.00 Financial Assets (applications) 1.000.00 Paid up capital 120,000.00 Financing obtained (M/L term) 80,000.00 Suppliers 9,000.00 Other Information: Activity takes place evenly throughout the year, consider a 360-day business year. Social Security payments are made in the following month consider the 23% rate on the company's account and the 11% withholding tax Holiday and Christmas subsidies are paid in July and December, respectively. Consider also the 10% withholding at source for IRS, in this case the payment to the State is also made in the following month The maturity of the loan in the opening balance sheet is 4 years, Loan repayments and interest are due half-yearly, paid in July and November, and the annual Interest rate is 6W, W necessary the company can take out a credit line that bears interest every four months at 3%, paid in the four months following its use; Excess funds can be applied at the interest rate of 2% per four months, received in the four months following its use. The company intends to have 18.000.00 euros available in each four months Based on the information, it is intended that you complete the cash budget with the missing amounts, as well as draw up the financial budget. Group II (04 points) Based on the Standard Costing system tick the correct answer to the following statements: 01. Activity variance (of a cost centre) is favourable whenever: a) The actual activity is higher than the monthly standard activity b) The centre's actual activity is greater than one-twelfth of the predicted standard activity c) The previous two statements are true. Both the above statements are false. Q2. The following data is known regarding the month's consumptions. consumption of 3 tonnes at a unit acquisition cost of ???C/tonne, for a production of 1000 units of product given month. Knowing that the material deviation is unfavourable and equal to 63,000, that the standard consumption quantity was 0.3 tonnes, and that the standard purchase price is 130.00/tonne, state the standard price of the material, justifying the a with calculations: (a) 140.00/tonne. 137.50 /tonne (c) 147.50 EUR/tonne 11 Annther value. Which is it