REQUIRED Use the information provided below to calculate the following variances. In each case state...
80.2K
Verified Solution
Link Copied!
Question
Accounting
REQUIRED
Use the information provided below to calculate the following variances. In each case state whether the varience is Show transcribed data REQUIRED Use the information provided below to calculate the following variances. In each case state whether the varience is favourable or unfavourable.
Regal Lid uses the standard costing system. The standards and actual information for May 2022 for the only product that it manufactures are as follows:
Direct materials & 4 kg@ R7 per kg
Direct labour & 5 hours @ R60 per hour
Vaniable manufacturing overheads & R12 per labour hour Normal production & 12000 units per month
Actual information for May 2022:
Direct materials used & 43000 kg@ R7.50 per kg
Direct labour & 56000 hours @ R58 per hour
Variable manufacturing overheads & R649600
Production & 11000 units manufactured
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!
