(a) A manufacturing company operates a costing system and showed the following data in respect of...
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(a) A manufacturing company operates a costing system and showed the following data in respect of the month of November, 2017. Budgeted Actual Working days Man hours Fixed Overhead Cost (3) Output (units) You are required to calculate fixed overhead variances from the above data. 20 Working days 4,000 Man hours 2,400 Fixed Overhead Cost () 800 Output (units) 22 4,200 2,500 900 3(b) Gemini chemicals Ltd. Provides the following information from its records: Material Quantity (kgs) Rate/kg (3) A 8 6 B 4 During April 2017, 1,000 kgs of GEMCO were produced. The actual consumption of material was as under: Material A B 4 12 Calculate: i. Material cost variance ii. Material Price variance Quantity (kgs) 760 500 1,260 Rate/kg ( 7 5 [6+(2+4) Marks] (a) A manufacturing company operates a costing system and showed the following data in respect of the month of November, 2017. Budgeted Actual Working days Man hours Fixed Overhead Cost (3) Output (units) You are required to calculate fixed overhead variances from the above data. 20 Working days 4,000 Man hours 2,400 Fixed Overhead Cost () 800 Output (units) 22 4,200 2,500 900 3(b) Gemini chemicals Ltd. Provides the following information from its records: Material Quantity (kgs) Rate/kg (3) A 8 6 B 4 During April 2017, 1,000 kgs of GEMCO were produced. The actual consumption of material was as under: Material A B 4 12 Calculate: i. Material cost variance ii. Material Price variance Quantity (kgs) 760 500 1,260 Rate/kg ( 7 5 [6+(2+4) Marks]
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Related Book For
Managerial Accounting
ISBN: 9780073526706
12th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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