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

MARGINAL COST APPLICATIONS, HOW APPLICABLE IS THE MARGINAL COSTING CONCEPT ...

HOW APPLICABLE IS THE MARGINAL COSTING CONCEPT IN ACCOUNTING

Calculate the minimum annual sales, a factory operates a small canteen but ...

a factory operates a small canteen but its annual operation has consistently shown a loss:

Purpose of cost accounting information, Purpose of Cost Accounting Informat...

Purpose of Cost Accounting Information Cost accounting is employed for a number of reasons, some of that are briefly described in the given points as: a) Accounting for co

Gains and losses on disposal, When assets are replaced during the anticipat...

When assets are replaced during the anticipated life of the project, or at the end of the anticipated life of the project, they are sold at their pre-determined scrap values. Incom

Describe time sheets and job cards, (a) Describe briefly how the following ...

(a) Describe briefly how the following are used in the accounting for labour: (i)   time sheets (ii)   job cards. (b) The following details relate to the labour in a produ

Prepare a report for profitability of a company, The following information ...

The following information has been prepared for XYZ Ltd by their assistant accountant. The risk free rate of interest on government securities in 2008 is 7.3% Required:

Timing of cashflows, The time of cashflows for the project are as follows; ...

The time of cashflows for the project are as follows; Operating Income (rent) is received annually, in advance. For NPV purposes they are assumed to have been received at th

allocation of cost, looking for a dissertation of cost allocatio

looking for a dissertation of cost allocation

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