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BS Limited manufactures one standard product and operates a system of variance accounting using a fixed budget. As assistant management accountant, you are responsible for preparing the monthly operating statements. Data from the budget, the standard product cost and actual data for the month ended 31 October are given below.Using the data given, you are required to prepare the operating statement for the month ended 31 October to show the budgeted profit; the variances for direct materials, direct wages, overhead and sales, each analysed into causes; and actual profit.Budgeted and standard cost data:Budgeted sales and production for the month: 10 000 units Standard cost for each unit of product:Direct material:X:10 kg at £1 per kgY:5 kg at £5 per kgDirect wages:5 hours at £3 per hourBudgeted fixed overheads are £300 000Budgeted sales price has been calculated to give a contribution of 50% of sales priceActual data for month ended 31 October:Production: 9500 units sold at a price of 10% higher than that budgeted Direct materials consumed:X:96 000 kg at £1.20 per kgY:48 000 kg at £4.70 per kgDirect wages incurred 46 000 hours at £3.20 per hourFixed production overhead incurred £290 000
What are the objectives of agile development?
Is it necessary to do an entry to correct the prior years' depreciation? Prepare the entry to record depreciation for 2011
3. An investor is considering the purchase of a 10-year 8% coupon bond selling for $934.96 and a par value of $1,000. The yield to maturity for this bond is 9%. Calculate the interest on interest from the bond assuming that the semiannual coupo..
you are comparing two companies in the same industry. you have determined that foothill corp. depreciates its plant
You read about various internal controls that should be in place for ensuring sound operations and transaction processing. Internal control is a favorite topic of auditing students, since a lot of the internal controls you learned about can be app..
select a company that you are familiar with from the transportation industry.bullcollect the 4 main financial
1. assume that you have graduated from bridgewater state college and are a practicing cpa. one of your clients karen
The expected risk and return on individual securities are two of the most important measures of attractiveness. Precisely and completely explain how the expected return and standard deviation of the returns on individual securities are determined ..
Kim owns a chinese restaurant. The business's fixed assets include some kitchen equipment. Prepare the disposal account recording the profit orloss on the sale of the kitchen equipment.
An auditor is required to obtain a sufficient understanding of each of the components of an entity's system of internal control to plan the audit of the entity's financial statements and to assess control risk for the assertions embodied in the ac..
watson company has the following data work in process beginning 18000 work in process ending 25000 direct labor costs
Compare each organization's use of information systems to help manage internal operations and to make decisions. Assess how these two organizations use information technology for competitive advantage.
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