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Question 5 Soalan 5) (a) Stitcherx manufactures a high quality lantern for camping lovers. The company's direct labour rates have been set by the terms of the current labour contract. According to the labour contract, the intern is not entitled to the same rate as a regular machine operator during the training period. In March 2018, a fresh intern was being trained during regular working hours to become an operator on one of the machine. A supervisor determined that the intern had spent a total of 48 hours as a machine operator in March. Standard time for the same work output is 32 hours. The apprentice earned RM6.25 per hour in March. The standard direct labour rate for machine operators working on machine is RM10 per hour. [Stitcherx mengeluarkan lampu yang berkualiti tinggi untuk penggemar aktiviti perkhemahan. Kadar buruh langsung syarikat telah ditetapkan oleh syarat-syarat kontrak buruh semasa. Menurut kontrak buruh, pelatih tidak berhak mendapat kadar yang sama sebagai pengendali mesin biasa semasa tempoh latihan. Pada bulan Mac 2018, pelatih baru sedang dilatih semasa waktu bekerja biasa untuk menjadi pengendali di salah sebuah mesin. Seorang penyelia telah menentukan bahawa pelatih telah mengambil masa sebanyak 48 jam sebagai pengendali mesin pada bulan Mac. Masa standard untuk output kerja yang sama ialah 32 jam. Perantis memperoleh RM6.25 sejam pada bulan Mac. Kadar buruh langsung standard bagi pengendali mesin ialah RMIO sejam.] Required: [Dikehendaki:] (i) Calculate the direct labour efficiency variance. [Hitung varian kecekapan buruh langsung.) (3 Marks/ Markah) Calculate the direct labour rate variance. [Hitung varian kadar buruh langsung.) (3 Marks/ Markah) Based on the above situation, explain whether the company benefits financially or not. [Berdasarkan situasi di atas, terangkan sama ada syarikat itu mendapat faedah dari segi kewangan atau tidak.] (4 Marks/ Markah) (b) A variance in one element of manufacturing costs can be due to occurring in another ment of manufacturing costs. Explain the interrelationship between variances. (Varian dalam satu elemen kos pembuatan boleh disebabkan oleh varian dalam elemen lain dalam kos pembuatan. Terangkan hubungan intra antara varian-varian tersebut.] (5 Marks/ Markah) 10/- On 1 January 2016, ZoneZone Co. commenced its operations. The company requests you to suggest an appropriate method of inventory costing for the company. The executive officer will use your recommendation to prepare the company's income statement. It operated its plant at 100% of capacity during January. The following data summarized the results for January: [Pada 1 Januari 2016, ZoneZone Co, memulakan operasinya. Syarikat meminta anda mencadangkan kaedah pengiraan kos stok untuk syarikat . Pegawai eksekutif akan menggunakan cadangan anda untuk menyediakan penyata pendapatan syarikat. Kilang itu dikendalikan pada kapasiti 100% dalam bulan Januari. Data berikut merumuskan maklumat untuk bulan Januari:) Table 4: Information for January 2016 [Jadual 4: Maklumat untuk bulan Januari 2016) Items Production units Sales units Selling price per unit Units 50,000 42,000 RM18 Manufacturing costs: Variable Fixed Total RM575,000 RM80,000 RM655,000 Selling and administrative expenses: Variable Fixed Total RM35,000 RM10,500 RM45,500 Required: [Dikehendaki:) (i) Prepare an income statement using the absorption costing. [Sediakan pendapatan operasi menggunakan kos serapan) (5 Marks/ Markah) Prepare an income statement using the variable costing. [Sediakan pendapatan operasi menggunakan kos boleh ubah.] (5 Marks/ Markah) Question 5 Soalan 5) (a) Stitcherx manufactures a high quality lantern for camping lovers. The company's direct labour rates have been set by the terms of the current labour contract. According to the labour contract, the intern is not entitled to the same rate as a regular machine operator during the training period. In March 2018, a fresh intern was being trained during regular working hours to become an operator on one of the machine. A supervisor determined that the intern had spent a total of 48 hours as a machine operator in March. Standard time for the same work output is 32 hours. The apprentice earned RM6.25 per hour in March. The standard direct labour rate for machine operators working on machine is RM10 per hour. [Stitcherx mengeluarkan lampu yang berkualiti tinggi untuk penggemar aktiviti perkhemahan. Kadar buruh langsung syarikat telah ditetapkan oleh syarat-syarat kontrak buruh semasa. Menurut kontrak buruh, pelatih tidak berhak mendapat kadar yang sama sebagai pengendali mesin biasa semasa tempoh latihan. Pada bulan Mac 2018, pelatih baru sedang dilatih semasa waktu bekerja biasa untuk menjadi pengendali di salah sebuah mesin. Seorang penyelia telah menentukan bahawa pelatih telah mengambil masa sebanyak 48 jam sebagai pengendali mesin pada bulan Mac. Masa standard untuk output kerja yang sama ialah 32 jam. Perantis memperoleh RM6.25 sejam pada bulan Mac. Kadar buruh langsung standard bagi pengendali mesin ialah RMIO sejam.] Required: [Dikehendaki:] (i) Calculate the direct labour efficiency variance. [Hitung varian kecekapan buruh langsung.) (3 Marks/ Markah) Calculate the direct labour rate variance. [Hitung varian kadar buruh langsung.) (3 Marks/ Markah) Based on the above situation, explain whether the company benefits financially or not. [Berdasarkan situasi di atas, terangkan sama ada syarikat itu mendapat faedah dari segi kewangan atau tidak.] (4 Marks/ Markah) (b) A variance in one element of manufacturing costs can be due to occurring in another ment of manufacturing costs. Explain the interrelationship between variances. (Varian dalam satu elemen kos pembuatan boleh disebabkan oleh varian dalam elemen lain dalam kos pembuatan. Terangkan hubungan intra antara varian-varian tersebut.] (5 Marks/ Markah) 10/- On 1 January 2016, ZoneZone Co. commenced its operations. The company requests you to suggest an appropriate method of inventory costing for the company. The executive officer will use your recommendation to prepare the company's income statement. It operated its plant at 100% of capacity during January. The following data summarized the results for January: [Pada 1 Januari 2016, ZoneZone Co, memulakan operasinya. Syarikat meminta anda mencadangkan kaedah pengiraan kos stok untuk syarikat . Pegawai eksekutif akan menggunakan cadangan anda untuk menyediakan penyata pendapatan syarikat. Kilang itu dikendalikan pada kapasiti 100% dalam bulan Januari. Data berikut merumuskan maklumat untuk bulan Januari:) Table 4: Information for January 2016 [Jadual 4: Maklumat untuk bulan Januari 2016) Items Production units Sales units Selling price per unit Units 50,000 42,000 RM18 Manufacturing costs: Variable Fixed Total RM575,000 RM80,000 RM655,000 Selling and administrative expenses: Variable Fixed Total RM35,000 RM10,500 RM45,500 Required: [Dikehendaki:) (i) Prepare an income statement using the absorption costing. [Sediakan pendapatan operasi menggunakan kos serapan) (5 Marks/ Markah) Prepare an income statement using the variable costing. [Sediakan pendapatan operasi menggunakan kos boleh ubah.] (5 Marks/ Markah)
