Calculate costs using appropriate technique of cost analysis

Assignment Help Accounting Basics

Reference no: EM131765433

Question: Your organisation produces/sells a single product. Details on the product are given below.

Selling price £35

Unit costs

Direct materials £6

Direct Labour £5

Variable Production overhead £2

Variable sales overhead £1

Budgeted production for the period 600 units

Fixed costs for the month are given below

Budgeted cost Actual cost

Production overhead £1,800 £2,000

Administration cost £800 £700

Selling cost £400 £600

Budgeted sales for the period were 450 units but the actual sales were 600 units. There was no opening stock and actual production for the month was 700 units

Calculate costs using appropriate techniques of cost analysis to prepare an income statement of marginal and absorption costing using the data provided below and explain the differences between them.

Reference no: EM131765433

Questions Cloud

People in an insurance office : You manage a staff of 15 people in an insurance office. You have noticed that several of the employees are taking longer and longer coffee and cigarette breaks.

Essential project management skills : What skills and knowledge do you develop in essential project management skills. This should focus on skills, knowledge and resources required.

Differences between qualitative and quantitative risk analys : Address the following: What are the differences between qualitative and quantitative risk analysis? Explain.

Determine the average inventory and orders per year : Determine the EOQ, average inventory, orders per year, average daily demand, reorder point, annual ordering costs, and annual carrying costs

Calculate costs using appropriate technique of cost analysis : Calculate costs using appropriate techniques of cost analysis to prepare an income statement of marginal and absorption costing using the data provided.

Discuss accounting information system in auditing techniques : accounting information system in auditing techniques. Give one case study and analysis the case study using SCARF techniques

Requirements of disability eligibility under ada : Describe whether the requirements of disability eligibility under ADA and ADAAA are applicable in this circumstance

Develop a set of open-ended questions : Develop a set of open-ended questions that will allow you to gain a clear and complete picture of the plan as it currently exists.

Calculate the total issue price of the bonds : On January 1, 2010, Haley Co. issued ten-year bonds with a face amount of $2,000,000, The total issue price of the bonds was

User Account

All Pages