This company is introducing a standard cost calculation system. Quantity standard price standard Standard cost Direct material
Question:
This company is introducing a standard cost calculation system.
Quantity standard | price standard | Standard cost | |
Direct material cost | 3kg | 300¥ | 900¥ |
Direct labor cost | 6hours | 200¥ | 1200¥ |
Variable manufacturing overhead | 6hours | 50¥ | 300¥ |
Fixed Manufacturing Indirect Cost | 6hours | 30¥ | 180¥ |
2580¥ |
⓵Standard cost per unit of product set by the company
⓶ The fixed manufacturing overhead budget is 225,000¥, The standard operation is also 7,500 hours
⓷ Direct Material Related Data.
● purchase volume(credit) : 4000kg ● unit price of purchase price : 310¥/kg
● amount used : 3500kg
⓸ Actual amount of direct labor cost : ● Actual operation time 7400hours
● actual rate of wage 210¥
⓹ Actual amount of variable manufacturing overhead costs : 340000¥
Actual amount of fixed manufacturing overhead costs : 230000¥
⓺ 1200 units of finished product, There is no work in hand.
⓻ 1,100 units were sold on credit. selling price 3500¥/unit
Question
1. Analyze the differences for each of the following cost elements
2. Differences in budget and operating costs for fixed manufacturing indirect cost