Reference no: EM131168347
1. XANS Nigeria limited is a manufacturer of beverages. the budgeted activity and cost data for the half year July to December 2009 were as follows:
•Direct labour hours 4,491,000c
•Direct wages (#) 2,240,000
Overhead:
•Fixed (#) 2,208,000
•Variable (#) 3,400,000
The actual results for the six months were;
•Direct labour hours 4,300,000
•Direct wages (#) 2,560000
Overhead:
•Fixed (#) 2,040,000
•Variable (#) 3,860,000
The existing method of absorbing overhead is by a direct wages percentage rate. A proposal has been made to change the overhead absorption to a direct labour hours rate analysed into fixed and variable overhead.
You are required to
i. Under the present system, calculate
a. Budgeted direct wages percentage rate of overhead absorption
b. The absorbed overhead
c. The over/ under absorbed overhead
ii. To calculate under the new proposed system ( i.e. using direct labour hour rate of absorption)
1. The budgeted direct labour hour rate of overhead absorption
2. The absorbed overhead
The over or under absorbed overhead.
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