Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Management Posted 04 Jun 2017 My Price 11.00

regarding unit standar and revenued costs

Granger plc makes stoves. Details regarding unit standar and revenued costs are as follows:

€

Sales price 600

Direct labour (10 hrs at €15 per hr) 150

Direct materials (60kg) 180

Fixed cost per unit 70

Standard profit 200

 

The budgeted output for March was 400 stoves; the actual output was 350 stoves, which was sold for €227,500. Total budgeted fixed overheads were €28,000. There were no inventories at the start or end of March.

 

The actual production costs were:

€

Direct labour (4000 hrs) 63,000

Direct materials (18,000 kgs) 72,000

Fixed Overheads 30,000

 

Required

 

    1. Calculate the variances for March from the available information and use them to reconcile the budgeted and actual profit figures. Outline at least one reason for each variance calculated.

    2. What is meant by a variance?

      Most businesses that operate successful budgetary control systems tend to share some common features. Describe these features explaining their significance to effective budgetary control.

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Jun 2017 10:06 PM My Price 11.00

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