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Question: Everbright Electronics Ltd, a manufacturing company, uses a standard costing system for planning and control purposes. Details of the standard costs for each unit of goods produced are as follows: Direct materials (5 kg at $6.00) Direct labour (3 hours at $15.00) Manulacturino overhead Variable (3 direct labour hours (@ $6.00) Fixed (3 direct labour hours a $12.00) Total standard cost $30 $45 S18 $36 $129 The budgets prepared for the last quarter revealed that the budgeted fixed overhead was $90,000 with a budgeted production volume of 2.500 units. After the quarter ended, the accountant of the company extfacted the following actual results from the costing system for the last quarter: Production volume Direct materials (18,000 kg at $6.30) Direct labour (8,900 hours at $15.60) Ma: facturing overhead: table Fixed 3,000 units S113.400 $138.840 $51.000 $93.000 Reauired: For the purpose of preparing the monthly performance report for the last month, calculate the following eight cost variances (r) Direct material price variance (DMPV) (in) Direct material quantity variance (DMOV) Min Directlabour rate ance (DLRV) (v) Directlabour efticiency variance (DLEV (v) Variable overhead spending variance (VOHSV) (vi) Variable overhead efficiency variance (VOHEV) (vii) Fixed overhead budget variance (FOHBV) (viii) Fixed overhe slume
Write down the intermediate demand for each type of product. ?National exporters (NE) Ltd manufactures Agricultural, Industrial and mineral products
What budget is needed to prepare the direct labor budget? General and Administrative expense budget/ Production budget/ Direct labor budget
Penny's TV and Appliance? Store's, If Penny does not manufacture the goods it? sells, which one of the amounts is ?Penny's total variable cost per unit? sold?
why does management accounting provide information to the internal users only?
What is the product profit margins using three methods of overhead allocation: plant-wide rate; departmental rates; and activity-based costing
If The Chair Company has unlimited demand for both types of stool, but only 40 hours per week to assemble the stools, which stools should they produce
How do you get the weighted average cost of capital? What formula(s) do you use?
Fitzgerald Limited produces and sells a single product. Calculate the revised break even point if a new wage settlement increases direct labour costs by 20%.
CWB Company had the following information for the year: Direct materials used $190000. What were the total current manufacturing costs
Prepare the company's direct materials purchases budget and schedule of expected cash disbursements for materials for the upcoming fiscal year
Under absorption costing, what amount of fixed overhead is deferred to a future period? Obama Company sells its product for $25 per unit.
Question - Sandhill, Inc., has a debt ratio of 0.61. What are the company's debt-to-equity ratio and equity multiplier
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