Question 1 During the most recent year, Jerai Company had the following data associated with the product it makes: Units in beginning inventory Units produced Units sold (RM300 per unit) Variable costs per unit Direct materials Direct labor Variable overhead Fixed costs Fixed overhead per unit produced Fixed selling and administrative 300 15,000 12,700 RM 20 60 12 30 140,000 Refer to the data above: a) How many units are in ending inventory? b) Using absorption costing and variable costing, calculate the per unit product cost. c) What is the value of ending inventory under absorption costing and variable costing? d) Calculate the cost of goods sold under absorption costing and variable costing. e) Prepare an income statement using absorption costing and variable costing. Question 2 Cahaya Company produces product X with the following cost structure: Standard cost per unit: Direct materials RM6 Direct labor (5 hours at RM2 per hour) RM10 Production overheads RM8 A total of 8,000 units of product X were actually produced. The budgeted production was estimated to be 7,000 units Calculate the standard cost of production for Product X and the standard hours produced. Question 3 DRS Company showed the following information for the year: Standard variable overhead rate (SVOR) per direct labor hour Standard hours (SH) allowed per unit Actual production in units Actual variable overhead costs Actual direct labor hours RM3.75 4 15,000 RM222,816 57,200 a) Calculate the standard direct labor hours for actual production. b) Calculate the applied variable overhead. c) Calculate the total variable overhead variance