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From the following data write the standard cost card for one unit of the sole product manufactured.
Standard Cost card for One Unit Direct Materials 20 Kgs A @Rs.0.80 per Kg 15 Kgs B @Rs.2.40 per kg Director Labour Preparation 14 hrs @ Rs.3.75 per hour Assembly 5 hrs @ Rs.2.50 per hour
The budgeted full overheads for year: Rs. Hours Preparation Dept. 88,000 21,000 Assembly Dept. 150,000 24,000
The fixed overheads (contained in the above figures) are Rs. 25,000 and Rs. 48,000 respectively. Requirement: The standard cost card should show sub totals for:
a. Prime cost b. Variable production cost c. Total production cost
Variable costs are the cost that are directly proportionate with the quantity of manufacture and or directly associated with the service.
Match each of the six following terms with the phrase that most closely describes it. Each answer may be used only once. _____ 1. Direct costs _____ 2. Fixed costs _____ 3
Standard Cost It is especially serious that you establish a link between standard budgets and costs. At this point, you require putting in your mind to standard costs one the
Tony Allan Inc is a small manufacturer of metal products in Toronto. The company rents its factory building. It uses a job order costing system because it has a wide variety of p
A Government issued a number of index-linked bonds on 1 June 2000 which were redeemed on 1 June 2002. Each bond had a nominal coupon rate of 3% per annum, payable half yearly in a
Mission Foods produces two flavors of tacos, chicken and fish, with the following characteristics: Chicken Fish Selling price per taco $3.00 $4.50 Variable cost p
This is the income received but not earned throughout the accounting period. Conversely, this is the income for those services are to be rendered in future. Such income is deducted
WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS
maintenance costs at a hospital
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on t
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