Calculate what variances have arisen, Cost Accounting

The following details were extracted from the standard cost card of a component:  
   
Raw Materials 
            2.82 Kgs @ Rs.4.80 Kg. 
  
Direct Labour
           Type I   6.5 hrs @ Rs.3.75
           Type II  3.85 hrs @Rs. 4.25
  
During a period original results were as follows: 
           Production 1,100 components. 
  
Direct Material  Purchase and usage
          3,200 Kgs at a cost of Rs.15,100
  
Wages Paid
          Type  I (7,120 hrs ) Rs.27,056
          Type II (4,235) Rs. 18,210

Requirement:  You are needed to calculate what variances have arisen.

Posted Date: 3/18/2013 6:38:19 AM | Location : United States





price variance-15100-153620=260 (fav)
usage variance-15360-14890=470 (adverse)
total material variance=210 (adv)
Posted by naveed | Posted Date: 6/30/2013 10:48:59 AM


Related Discussions:- Calculate what variances have arisen, Assignment Help, Ask Question on Calculate what variances have arisen, Get Answer, Expert's Help, Calculate what variances have arisen Discussions

Write discussion on Calculate what variances have arisen
Your posts are moderated
Related Questions
What is a standard and acceptable variance

Build-Rite construction has received favorable publicity from guest appearances on a public TV home improvement program. Public TV programming decisions seem to be unpredictable, s


What is callable preferred stock? Why do corporations issue such stock? Given the different features that are associated with stock (callable, cumulative, preferred, etc.), what ty

Place a prepared slide of Trypunosoma under tlic microscope and focus it under low power, You will observe large number of tiny spindle-shaped trypanosomes lying in the plasma alll

Assume that a primary care physician practice performs only physical examinations.  However, there are three levels of examinations I, II, III - that vary in depth and complexity.

Bickering Ltd Income Statement for the year ended 30 June 2012   Sales (credit)                                                                           636,10

Accounting for Job Order Costing 1.  Direct Labor  Dr W.I.P. Control Account Cr Cash Account 2.  Accrued Direct Wages Dr W.I.P. Control Account Cr Wages

#ques Case Study Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for