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You are required to conduct a detailed analysis of all the prime cost and overhead variances. You must create a fictitious company (and a fictitious cost object) which has at least three direct material categories; at least two direct labour categories and both variable and fixed overheads. You can refer to pages 476 and 532 of your prescribed textbook for detailed illustrations and also the lecture illustration which was discussed in the lecture and tutorial in week 7 and 8. Please make sure you clearly mention the standard and the actual quantity and price of all the inputs. You're encouraged to use diagrams and flowcharts to illustrate your analysis. In total, you'll be analysing 6 direct material variances (both price and efficiency variance for the three types of direct material - 3 x 2 = 6), 4 direct labour variances (both price and efficiency variance for the two types of direct labour - 2 x 2 = 4), 2 variable overhead variances (spending and efficiency variance) and 2 fixed cost variances (spending and volume variance). You MUST make sure that any 4 out of the 6 direct material variances are unfavourable and any 1 out of 4 direct labour variances are favourable. In the end you must prepare a short report (maximum 1,000 words) of your analysis, identifying possible reasons for favourable and unfavourable variances. You're also required to record the necessary journal entries to close all the variances.
Smart Ltd ha sa unit selling price of $500 variable costs per unit of $325 and fixed costs of $140 000. Calculate the break even point in units using (a) a mathematical equations a
What is the major value of the weighted cost of capital calculation for the firm?
tHE FIRST SECTION ASSIGEMTN ANSWER FOR HAMPSHIR COMPANY DECISIONS
Features and Procedures of Job costing Features of Job costing Product is against the customer's order and not on job stocks. Every job has its own characteristics and ne
Q. What kinds of benefits have communities realized due to FCA? Communities have understood the following benefits by using FCA: • Rates or tipping fees are set right and fa
Purchase of office supplies.
Mr. Marley is a wholesaler who buys and sells a wide range of products, one of which is the Laker. Mr. Marley sells 24,000 units of the Laker each year at a unit price $20. Sales o
In this exercise you will familiarize yourself with index models, beta and CAPM estimation. Download the spreadsheet data_question3.xlsx from Sakai and use the data contained there
costing in respect of mathematical accounting a research project.
how to do it
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