Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem:
Fancy Foods Ltd uses a standard costing system to control its material and labour costs. The standard costs for January 2007 were as follows.
Standard Costs Materials 0.5 kg per unit £10 per kg £5 Labour 1 hour at £8 per hour £8
They were expecting to produce 200 units in January 2007, whereas they actually produced 210 units. The actual costs incurred were
Actual Costs
Materials 110 kgs at a total cost of £1045 Labour 220 hours at a total cost of £1815
a) Determine the total material variance and its two sub variances, the material price variance and the material usage variance.
b) Give two possible reasons for the causes of the material price variance and two possible reasons for the usage variance that you have calculated in part above.
c) Determine the total labour variance and its two sub variances, the labour rate variance and the labour efficiency variance.
d) Give two possible reasons for the causes of the labour rate variance and two possible reasons for the causes of the efficiency variances that you have calculated in part (c) above.
e) Describe how the causes of labour variances and the material variances may be linked.
solutions for (POS) slow printing of sales tickets and unpredictable action of cash drawers. when credit approvals delayed the checkout process or when the computer was down, thus
The advantages and disadvantages of standard costing The benefits for controlling having a standard costing system in operation can be summed up as follows; Cautiously pl
Economies or Diseconomies of Scale The costs of a value activity are often subject to economies or diseconomies of scale. Economies of scale occur from the capability to perfo
The Role of Computers in Simulation Computers can be used to: 1) To generate the random numbers 2) To simulate thousands of trials. This is done extremely fast, accuratel
What the traffic can bear pricing Pricing based on what the traffic can bear is not a sophisticated method. It is used by retail traders as well as by some manufacturing firms.
When the customers of the company are spread over broad geographical areas then in place of a particular collection centre the company opens collection centres at the regional stag
What is the fastest time financial accounting assignment can be done by your company? It will be a report type format but overview type without going into depth.
Select the cost driver(s): This might also be termed to as independent, explanatory or predictor variable. A cost driver can be stated as any factor whose change causes a chang
Explain Short term budgets Short term budgets: these budgets are generally for one or two years and are in the form of monetary terms. The consumer's good industries like su
different methods used to assign manufacturing overhead
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd