The overhead cost variances , Cost Accounting

Assignment Help:

The following facts have been extracted from the standard cost card for product X: 
   
                                                                                                       Rs./unit    
      Variable overhead
          4 machine hours @ Rs.8.00/hour                                               32.00
        2 labour hours @ Rs. 4.00/ hour                                                  8.00
        Fixed overhead                                                                         20.00
 During  October  20X7,  5,450  units  of  the  product  were  made  compared  with  a  budgeted production target of 5,500 units. The actual overhead costs incurred were: 
                
                                                                                                              Rs.

        Machine-related variable overhead                                                 176,000
        Labour-related variable overhead                                                   42,000
        Fixed overhead                                                                           109,000
 
The original number of machine hours was 22,000 and the real number of labour hours was
10,800. 
 
 Requirements: 
(a)    Measure  the  overhead  cost  variances  in  as much  detail  as  possible  from  the  data given
(b)    Describe  the meaning  of,  and  discuss  the  variable  overhead  variances  that  you have calculated.  .  


Related Discussions:- The overhead cost variances

Accounting for labor, weekly working hour 48 , hourly wage rate 15$ , pri...

weekly working hour 48 , hourly wage rate 15$ , price rate per unit 6$ , normal time taken per piece 36 minuets , normal output per week 220 pieces , actual output per week 275 pie

Managerial accounting, Classic Coolers manufactures portable coolers adorne...

Classic Coolers manufactures portable coolers adorned with college logos. During the first quarter of the year, the company had the following costs: Direct materials used $55,500 D

Determine the internal rate of return, AOL is considering two proposals to ...

AOL is considering two proposals to overhaul its network infrastructure. They have received two bids. The first bid, from Huawei, will require a $20 million upfront investment and

Job order costing, XYZ Company is a family-owned bicycle manufacturing comp...

XYZ Company is a family-owned bicycle manufacturing company located in Stow, Ohio.  Until recently,it had maintained slow but steady growth in producing and marketing its only pr

Calculate the cost per unit for products, Chemical Recovery Company uses co...

Chemical Recovery Company uses common machinery to manufacture two products.  Each year, the company has a total of four productions runs, which is two production runs for each pro

Flexible budgets, Flexible budgets provide different information than stati...

Flexible budgets provide different information than static budgets. Discuss some of these differences. Is a flexible budget always better? Are there times when you’d recom

Cost audit, what is cost audit? types of cost audit explain

what is cost audit? types of cost audit explain

Accounting records - nature and purpose of cost accounting, Accounting Reco...

Accounting Records - Nature and Purpose of Cost Accounting The quantitative information employed in the management and cost accounting systems can be obtained from with two ac

Estimate the growth rate of stock, Estimate the Growth rate of stock ...

Estimate the Growth rate of stock Data stock price = 53 rate of return= 12% expected dividend = 3.15 Formula : Expected return  = (dividend paid + capital

Write Your Message!

Captcha
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