Musician Shatta bundle produces music on compact discs (CD) and has incurred the following costs on...
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Musician Shatta bundle produces music on compact discs (CD) and has incurred the following costs on cd production: Raw Material Cost (Direct) Labour Wages Variable Production Overhead Fixed Production Overhead GH¢ 80 50 20 50 Standard production cost 200 The fixed production overhead figure has been calculated on the basis of a budgeted normal output of 72,000 units per annum. The fixed production overhead actually incurred in April was GH 30,000. Selling, distribution and administration expenses are: Fixed GH¢10,000 per month Variable 15% of the sales value. The selling price per unit is GH¢50 and the number of units produced and sold were: Production 11,000 Sales 9,000 Required: Prepare absorption and marginal costing profit or loss statements for the entity and reconcile the difference in profit or loss statements if any Musician Shatta bundle produces music on compact discs (CD) and has incurred the following costs on cd production: Raw Material Cost (Direct) Labour Wages Variable Production Overhead Fixed Production Overhead GH¢ 80 50 20 50 Standard production cost 200 The fixed production overhead figure has been calculated on the basis of a budgeted normal output of 72,000 units per annum. The fixed production overhead actually incurred in April was GH 30,000. Selling, distribution and administration expenses are: Fixed GH¢10,000 per month Variable 15% of the sales value. The selling price per unit is GH¢50 and the number of units produced and sold were: Production 11,000 Sales 9,000 Required: Prepare absorption and marginal costing profit or loss statements for the entity and reconcile the difference in profit or loss statements if any
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Reconciliation Particulars Sales 9000GHC 50 Less Cost of goods Sold Cost of goods Pr... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
Posted Date:
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