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The following details were extracted from the standard cost card of a component: Raw Materials 2.82 Kgs @ Rs.4.80 Kg. Direct Labour Type I 6.5 hrs @ Rs.3.75 Type II 3.85 hrs @Rs. 4.25 During a period original results were as follows: Production 1,100 components. Direct Material Purchase and usage 3,200 Kgs at a cost of Rs.15,100 Wages Paid Type I (7,120 hrs ) Rs.27,056 Type II (4,235) Rs. 18,210
Requirement: You are needed to calculate what variances have arisen.
ANGLE OF INCIDENCE: It is an angle that is created when the entire sales line intercepts the entire cost line from below in the breakeven chart. It is inferred that higher the an
Occurrence of Overhead Variances Overhead variances arise mainly because of the conventions of the overheads absorption process. The overhead absorption rates employed in this
what is the meaning or definition of cost objective?
explain the practical application of differential costing with the help of suitable example.
1. Develop a list of tasks that a newly appointed CFO would be responsible for, including relevant reports they will access and review and the schedule for when this would occur.
Outdoors R Us owns several membership-based campground resorts throughout the Southwest. The company sells campground sites to new members, usually during a get-acquainted visit an
Differentiate between Multiple Products, Selling Costs and Margin Management
formula for economic order quantity
The beginning inventory balances of Item X on August 1 and the purchases of the item during the month of August were as follows: August 1 Beginning Inventory 600 units @ $10.00
10% of the finished castings were to be defective in manufacture and were rectified by expenditure of additional works overhead charges to the extent of 20% on the proportionate di
price variance-15100-153620=260 (fav)usage variance-15360-14890=470 (adverse)total material variance=210 (adv)
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