Reference no: EM133057950
Question - Mare Co., the consultant of Marites Co. had summarized the following standard cost data extracted from the historical records and performance reports issued by the cost accounting department in the prior year to assist in her analysis and evaluation of the standard costing policy of the company:
|
|
Input required per unit
|
Standard cost per unit
|
Standard cost per unit
|
|
Direct Materials
|
6 kg. per unit
|
P90 per kg.
|
P540
|
|
Direct Labor
|
5 hours per unit
|
P50 per hour
|
P250
|
Other information follows:
Budgeted factory overhead for the year:
Variable 480,000
Fixed 600,000
The company's normal capacity per month is 400 units.
Actual cost materials purchased for the year is P2,342,000.
During the year, direct materials purchased is 26,880 kg while direct materials actually used in 24,760 kgs.
Actual labor costs for the year 1,080,000 of which 24,900 direct labor hours was consumed.
Actual factory overhead amounted to 1,320,000, 65% of which is fixed cost, FOH is based on labor hours.
Actual production during the year 5,150 units.
Required -
1. Compute the Spending Variance?
2. Compute the Variable Overhead Efficiency Variance?
3. Compute the Controllable Variance?
|
Prepare the two adjusting entries required on May
: Collected $45,000 cash from the sale of season tickets for the team's home games. Prepare the two adjusting entries required on May
|
|
Calculate the profit gain
: Calculate the profit gain, both in absolute dollors as well as in terms of percentage gains, by using TOC principles for determining product mix
|
|
How will money market prices change based on the report
: Assuming that money market prices are not exposed to credit risk, how will money market prices change based on the report? Explain
|
|
Deliver your informative speech
: Practice using your delivery outline to deliver your informative speech. Print your delivery outline so you can use it as your speaker notes.
|
|
Compute the Variable Overhead Efficiency Variance
: During the year, direct materials purchased is 26,880 kg while direct materials actually used in 24,760 kgs. Compute the Variable Overhead Efficiency Variance
|
|
How many handbags should Fatimah sell
: Fatimah needs to pay rent of her shop as SR 40,000 and employees' salaries as SR 7751. If Fatimah wants to make a profit of SR 50,000, how many handbags sell
|
|
Evaluate the governance structure of Netflix
: Question - Evaluate the governance structure of Netflix, particularly around how the executive team is monitored and compensated
|
|
What is the business plan of healthy food options
: What is the business plan (brief summary) of healthy food options that can help the business going to be successful as result of our own ideas
|
|
What quantity and price does the firm sell in Japan
: The monopolist's marginal cost is $2, and the total fixed cost is $5. What quantity and price does the firm sell in Japan to maximize its total profit
|