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From the following data write the standard cost card for one unit of the sole product manufactured.
Standard Cost card for One Unit Direct Materials 20 Kgs A @Rs.0.80 per Kg 15 Kgs B @Rs.2.40 per kg Director Labour Preparation 14 hrs @ Rs.3.75 per hour Assembly 5 hrs @ Rs.2.50 per hour
The budgeted full overheads for year: Rs. Hours Preparation Dept. 88,000 21,000 Assembly Dept. 150,000 24,000
The fixed overheads (contained in the above figures) are Rs. 25,000 and Rs. 48,000 respectively. Requirement: The standard cost card should show sub totals for:
a. Prime cost b. Variable production cost c. Total production cost
Engineering Method of Cost Estimation This method is based on a detailed study of each operation whereas careful requirement is made for materials, labour and equipment essent
Material Cost Control Therefore Materials form an important cost of output units and that should be controlled. Material Control is more than merely recording the accounting
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Savage Distribution markets CDs of performing artist Little Sister. At the beginning of October, Savage had in beginning inventory 1,200 Little Sister's CDs with a unit cost of $5
Developing and Insight into Labour and Material Variance The calculation of labour and material variances is not sufficient; we require knowing how the variance could have typ
Absorption vs. Variable Costing Varilux manufactures a single product and sells it for $10 per unit. At the beginning of the year there were 1,000 units in inventory. Upon further
Compute the predetermined overhead rate used during the year in the Preparation and Fabrication Departments.
Keyser Beverage Company reported the following items in the most recent year. Net income $40,630 Dividends paid 5,390 Increase in accounts receivable 12,130 Increase i
Typical Causes of Material Variances Price Variances a) Paying lower or higher prices than planned. b) Losing or gaining quantity discounts via buying in large
what are the legal distinctions between a business combination, a merger, and a consolidation.
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