CarmeQisya & Co operates a variance accounting system, producing a single product which is an instant...

 

Transcribed Image Text:

CarmeQisya & Co operates a variance accounting system, producing a single product which is an instant shawl with abaya. The monthly budget is to make and sell 10,000 units of a single product which has the following standard production unit cost details:- RM 10.80 per meter RM 18.00 per RM 6.00 per hour RM13.60 per hour Direct Material 8.00 meter Direct Labour 1.25 hours hour Variable Overhead 1.25 hours Fixed Overhead 1.25 hours Currently the standard selling price of the product is RM180 per unit. The following actual data was recorded for the June 2021. 9.000 RM1,656.000 Units produced and sold Actual total sales Materials purchased and used- 74.000 meters at a total cost of RM828.800 10,910 hours paid, costs RM 205,200 10.800 hours worked. RM 70,000 RM 168,000 Direct Labour Actual variable overheads Actual fixed overheads Required: Required: a. Calculate ALL variances and prepare and operating statement for the month ending 30 June 2021. (20 marks) CarmeQisya & Co operates a variance accounting system, producing a single product which is an instant shawl with abaya. The monthly budget is to make and sell 10,000 units of a single product which has the following standard production unit cost details:- RM 10.80 per meter RM 18.00 per RM 6.00 per hour RM13.60 per hour Direct Material 8.00 meter Direct Labour 1.25 hours hour Variable Overhead 1.25 hours Fixed Overhead 1.25 hours Currently the standard selling price of the product is RM180 per unit. The following actual data was recorded for the June 2021. 9.000 RM1,656.000 Units produced and sold Actual total sales Materials purchased and used- 74.000 meters at a total cost of RM828.800 10,910 hours paid, costs RM 205,200 10.800 hours worked. RM 70,000 RM 168,000 Direct Labour Actual variable overheads Actual fixed overheads Required: Required: a. Calculate ALL variances and prepare and operating statement for the month ending 30 June 2021. (20 marks)

Answer rating: 100% (QA)

Direct material variances 1 Direct Material Variances Actual Units sold 9000 Direct material Standar... View the full answer