Question: Please solve this correctly and quickly and this 3rd time Question Aguero Global Products (AGP) is a manufacturer of sporting trophies and has factories across

Please solve this correctly and quickly and this 3rd time Please solve this correctly and quickly and this 3rd time Question AgueroGlobal Products (AGP) is a manufacturer of sporting trophies and has factories

Question Aguero Global Products (AGP) is a manufacturer of sporting trophies and has factories across the world making original and replica trophies for each geographic region that it serves. Following the success of Manchester City Football Club winning the Premiership title in 2021, AGP have created a replica Premier League trophy, which allows fans to create a personal message on the front of the trophy, either for themselves or for others. The AGP marketing team has assigned the product name "Blue Moon". Unfortunately, the product launch was delayed due to issues in securing the required licences from both Manchester City FC and the Premier League. The product eventually launched on the 1st September 2021. You are Ruben Dias and have recently joined AGP as a Management Accountant in their UK business, and your line manager is the UK Finance Director, Pep Guardiola. Pep would like to review the product's performance for the first month to understand whether any changes are required in preparation for the Christmas gift season, and he has asked you to perform this analysis and report back. Pep has provided you with the following standard costs for one unit of the product Direct labour (15 minutes) 2.30 Direct materials (2 grams) 1.50 Fixed overheads (based on the budgeted monthly output of 20,000 units) 3.30 7.10 Selling price 10.50 Profit 3.40 During the month of September, you have found that only 15,000 units were made and sold and the financial results were as follows: Sales revenue 153,900 Direct labour (4,000 hours) Direct materials (32,000 grams) (35,040) (23,360) (67.350) 28,150 Fixed overheads Profit Required: Pep has asked you to produce a report to AGP's UK board of directors, analysing the September performance of Blue Moon. Your report should cover the following requirements. a) With reference to the actual results for September, prepare the original September budget and a flexed September budget for the product. Comment on your findings. (25 marks) b) Calculate the following variances using the budgets in (a) and the actual performance for September. i. Sales volume Sales price iii. Direct labour efficiency iv. Direct labour rate V. Direct material usage vi. Direct material rate vii. Fixed overheads (21 marks) C) Produce a reconciliation statement comparing the original budgeted and actual profits for the product for the month of September. Clearly explain the variances in the reconciliation. (25 marks) d) Recommend possible actions the board should consider when making plans for the "Blue Moon" product (25 marks) Presentation marks (9 marks) Total: 100 marks Question Aguero Global Products (AGP) is a manufacturer of sporting trophies and has factories across the world making original and replica trophies for each geographic region that it serves. Following the success of Manchester City Football Club winning the Premiership title in 2021, AGP have created a replica Premier League trophy, which allows fans to create a personal message on the front of the trophy, either for themselves or for others. The AGP marketing team has assigned the product name "Blue Moon". Unfortunately, the product launch was delayed due to issues in securing the required licences from both Manchester City FC and the Premier League. The product eventually launched on the 1st September 2021. You are Ruben Dias and have recently joined AGP as a Management Accountant in their UK business, and your line manager is the UK Finance Director, Pep Guardiola. Pep would like to review the product's performance for the first month to understand whether any changes are required in preparation for the Christmas gift season, and he has asked you to perform this analysis and report back. Pep has provided you with the following standard costs for one unit of the product Direct labour (15 minutes) 2.30 Direct materials (2 grams) 1.50 Fixed overheads (based on the budgeted monthly output of 20,000 units) 3.30 7.10 Selling price 10.50 Profit 3.40 During the month of September, you have found that only 15,000 units were made and sold and the financial results were as follows: Sales revenue 153,900 Direct labour (4,000 hours) Direct materials (32,000 grams) (35,040) (23,360) (67.350) 28,150 Fixed overheads Profit Required: Pep has asked you to produce a report to AGP's UK board of directors, analysing the September performance of Blue Moon. Your report should cover the following requirements. a) With reference to the actual results for September, prepare the original September budget and a flexed September budget for the product. Comment on your findings. (25 marks) b) Calculate the following variances using the budgets in (a) and the actual performance for September. i. Sales volume Sales price iii. Direct labour efficiency iv. Direct labour rate V. Direct material usage vi. Direct material rate vii. Fixed overheads (21 marks) C) Produce a reconciliation statement comparing the original budgeted and actual profits for the product for the month of September. Clearly explain the variances in the reconciliation. (25 marks) d) Recommend possible actions the board should consider when making plans for the "Blue Moon" product (25 marks) Presentation marks (9 marks) Total: 100 marks

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