Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve it with good handwriting or typing for me quickly thanks Question 3 You are working in a construction company and is currently working

please solve it with good handwriting or typing for me quickly thanks
image text in transcribed
Question 3 You are working in a construction company and is currently working on the construction of a 6-storey building in Kuala Lumpur. The preliminary estimate done by the quantity Surveyor shows that 100 m of normal Grade 30 is required for the casting of the first floor of the building. The work is to be carried out by 6 concrete sub-workers and should be done in 2 days. The estimated cost of the concrete is RM21,800 and the sub-workers are RM600. After the work had been completed in 3 days, it was found that the quantity of concrete used is 115 m with the final cost of RM21,700, while only 4 sub-workers were used in the work, with the final cost of RM500. a) Calculate the material price and usage variance, and the material cost variance for the concrete work. (3 marks) b) Calculate the labour price and usage variance, and the labour cost variance for the concrete work. (3 marks) c) Determine the status of the material and labour for the concrete work of the first floor. (2 marks) d) Explain on why this variance happened and give recommendations on how to avoid it in future projects. (2 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Charles E. Davis, Elizabeth Davis

2nd edition

1118548639, 9781118800713, 1118338448, 9781118548639, 1118800710, 978-1118338445

More Books

Students also viewed these Accounting questions

Question

Define broadbanding. What is the purpose of using broadbanding?

Answered: 1 week ago

Question

Distinguish between merit pay, bonus, spot bonuses, and piecework.

Answered: 1 week ago