Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer the questions using excel spreadshee

Please answer the questions using Excel spreadsheet or Word. Neat and understandable. Show All Working!...

60.1K

Verified Solution

Question

Accounting

Please answer the questions using Excel spreadsheet or Word. Neat and understandable. Show All Working!

image

Part B 10 Marks The Finance and Accounting Manager has learnt of variances in direct materials and direct labour for the month June 2021 and is seeking to ascertain the source of these variances (i.e. whether it was the result of pricing/rate and/or quantity. He utilizes standard costing to assist with this exercise. The following details are provided: Standard Cost Information Actual Cost Information Material $1 Direct Labour Price: Quantity: 4 kg per unit Rate: $1.50 Quantity: 2 hours per unit Budgeted: 10,000 units Total Cost: Total Quantity: Total Cost: Total Quantity Actual: $34,000 35,000 kg $30,000 17,000 hours 9,000 units Production Required: a) Compute materials price variance and materials quantity variance. b) Compute direct labour rate variance and direct labour quantity variance. c) Compute the total materials and total direct labour variances. 4 Marks 4 Marks 2 Marks

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

1. Parkruns are free 5km timed runs usually run on weekends in different cities, towns and...

Programming
1.2K views

Write a program in C++ that efficiently implements a skip list that holds integers. Your program...

Physics
1.2K views

In resonance state of LCR series circuit resonance frequency of circuit is f If the...

Algebra
1.2K views

5 k a a a Find k a A a a C a a B...

Accounting
1.2K views

A corporation reacquires 60,000 shares of its own $10 par common stock for $3,000,000, recording...

Accounting
1.2K views

of . Required information [The following information...

Accounting
1.2K views

Ethical Issues Are Very Important At Many Stages Of The Research Process. They Have Implications...

Accounting
1.2K views

PROJECT CASE: PART A BACKGROUND Adam Kleen Enterprise (AKE) was initially set up as a...

Accounting
1.2K views

The auditor of an issuer may provide which of the following tax services? a. Services...

Finance
1.2K views

Ram Corporation Ltd is a listed company. The firms' CFO has gathered data (06Marks) for...

Finance
1.2K views

10.00 points You've collected the following information from your favorite financial website Stock (DV 10.43...

Accounting
1.2K views

The following account balances at the beginning of January were selected from the general ledger...