What the volume variance under each product costing are

Assignment Help Cost Accounting
Reference no: EM132567164

Question 1: Lord Industries manufactures a single product. Variable production costs are P10 and fixed production costs are P75,000. Lord uses a normal activity of 10,000 units to set its standard costs. Lord began the year with no inventory, produced 11,000 units and sold 10,500 units. The volume variance under each product costing are:

                                              A.                B.                C.              D.

Under Absorption Costing   P3,750    P3,750       P7,500       P7,500

Under Variable Costing        P0          P7,500         P0             P0

Reference no: EM132567164

Questions Cloud

Data collection efforts on separate engineering management : An agency has focused its system development and critical infrastructure data collection efforts on separate engineering management systems
Calculate the momentum of motorcycle traveling : Calculate the momentum of. 265kg motorcycle traveling at 25m/s. Traveling around a circular curve 500 m in radius
What should the repair shops HST payable or refund be : John Barker owns a repair shop in Ontario, a province that has a 13 percent HST rate. What should the repair shops HST payable or refund be
Maximum magnetic field strength : You have a fairly strong Neodymium magnet that creates a maximum magnetic field strength of 0.2 T. Is it even possible to use this magnet
What the volume variance under each product costing are : Lord began the year with no inventory, produced 11,000 units and sold 10,500 units. What The volume variance under each product costing are
How long will it take them to meet according to s1 : They are approaching Earth, S1 is moving to the right with velocity 0.553c, and S2 is moving to the left with a velocity 0.669c as measured by someone on Earth.
What is the speed of the ball after the collision : If the collision is perfectly elastic, what is the speed of the 1.3 kg ball after the collision?
Question - journal entries and financial statements : Question - Journal entries and financial statements for an Enterprise Fund. Prepare the statement of revenues, expenses, and changes in net position
Why disaster recovery is not business continuity : Explain why disaster recovery is not business continuity. There are 3 main areas that can turn into a disaster within an organization what are they?

Reviews

Write a Review

Cost Accounting Questions & Answers

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

  Prepare the journal entries

Prepare the journal entries to record the bond issue and interest expense.

  Advise as to the liability of all the parties

Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.

  Prepare revenues budget

Prepare Revenues budget and Production budget in units

  Effect of exchange rate changes on cash and cash

Effect of exchange rate changes on cash and cash

  Corporate governance

You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

  Cost-benefit analysis

A cost-benefit analysis of electronic medical records in primary care

  Non-annual interest rates and annuities

Theory of Interest- Non-annual interest rates and annuities

  Job costing in service organizations

How is job costing in service organizations different from job costing in manufacturing environments?

  Accounting for bad debt expense

Accounting for bad debt expense

  Accounting and partnership problems

Accounting and Partnership problems

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd