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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.
Year Ending April 2009, 2009 April 30, 2008 Net Sales $10,148,082 $10,070,778 Accs Receivable 1,171,797 1,161,481 Assume that the accounts receivable (in thousands) were $996,852 a
Example of Methods of Allocating Service Costs Suppose the following data: User department Unit of Service Provided Costs Prior to Service Dep
Rosco Company purchased 35,000 shares of common stock of Paxton Corporation as a long-term investment for $900,000. During the year, Paxton Corporation reported net income of $300,
Rediger Inc. a manufacturing company, has provided the following data for the month of June. The balance in the Work in Process inventory account was $22,000 at the beginning of th
The following data pertains to an investment proposal: Required investment $400,000 Annual cost savings $105,700 Projected life of investment 6 years Projected salvage value $0 Req
First in First Out or FIFO FIFO method is based upon the assumption such stock purchased first is issued first. Prices of stock purchased first are employed to determine the v
Decision Making Cycle Steps in decision-making cycle are as: a) Clearly define the objective that is to be the focus of the decision. This is significant in order that the
types of operating costing
1. A company is considering a project that requires an initial investment of $100 million and will pay $20 million of each of the next 10 years, and nothing thereafter. The company
Describe the ways in which the needs of internal and external users of accounting information are the same and different.
price variance-15100-153620=260 (fav)usage variance-15360-14890=470 (adverse)total material variance=210 (adv)
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