Reference no: EM132730507
Question 1 - Balance Scorecard - Bowser and Wario is a chain of hardware stores (like Bunnings). They are a retailer and importer. They have both and online and brick and mortars business. The senior management team has identified the strategic priorities for the business as on-time delivery and product quality for their online business.
(i) For each of the strategic priorities, suggest three performance measures (Hint: use the three qualitative BSC quadrants to help you with the design).
(ii) Will the achievement of these performance measures achieve high profitability? Explain.
Question 2 - Standard Costing - The standard cost of making a single product is:
5kg @$2.75 per kg 13.75 0.4 hours @$6.40 per hour 2.56 Factory overhead 0.4 hours @3.50 per hour 1.400 $17.71
The factory overhead rate is based on a budgeted production of 20,000 units for the year, and budgeted fixed factory overhead of $12,000 for the month. Actual transactions and results for the year were: Direct Materials purchased 200,000kgs @ 2.78 per kg Direct Materials used 101,800 kgs Direct labour incurred 8,300 hours @ 6.48 per hour Factory Overhead incurred $28,400 Number of units produced 20,000
Calculate: (i) two variances for Direct material (ii) two Variances for direct labour (iii) two variances each for fixed and variable overheads. Show all working out in determining the variances.
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