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costing system

Forums › ACCA Forums › ACCA MA Management Accounting Forums › costing system

  • This topic has 7 replies, 3 voices, and was last updated 10 years ago by John Moffat.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • February 20, 2015 at 7:36 pm #229357
    daniel
    Member
    • Topics: 2
    • Replies: 5
    • ☆

    Product A uses 4 kg of material X and 7 kg of material Y at a standard price of $5 per kg and $6 per kg respectively. Product A needs two hours of skilled labour and one hour of semi-skilled labour at $10 per hour and $8 per hour respectively.
    Production overhead is absorbed at $5 per labour hour. Selling and distribution costs are $3 per unit of product A.
    What is the standard cost of production for product A?

    February 23, 2015 at 1:10 am #229691
    Farzana sultana
    Member
    • Topics: 19
    • Replies: 43
    • ☆☆

    is the answer 98?

    February 23, 2015 at 6:37 am #229706
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    Daniel: Don’t just ask for the answers to questions. Say what your problem is!

    The answer is in fact $105.

    February 23, 2015 at 8:45 am #229756
    daniel
    Member
    • Topics: 2
    • Replies: 5
    • ☆

    Thank you sir, pls i had 110 and i dnt get the overheads how it was absorbed. I added their hours allowed for the skilled and semi skilled and multiplied it by the $5.
    but didn’t get your answer.pls wer did i go wrong?

    February 23, 2015 at 10:25 am #229788
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    Material X: 4 x $5 = 20
    Material Y: 7 x $6 = 42
    Skilled labour: 2 x $10 = 20
    Unskilled labour: 1 x $8 = 8
    Production overheads: 3 x $5 = 15

    Total: $105

    🙂

    February 23, 2015 at 10:51 pm #229845
    daniel
    Member
    • Topics: 2
    • Replies: 5
    • ☆

    Sir pls, i have seen where i went wrong, i used material x and y as if they were separate product.

    February 24, 2015 at 2:50 am #229854
    daniel
    Member
    • Topics: 2
    • Replies: 5
    • ☆

    Thank you so much sir!!

    February 24, 2015 at 7:37 am #229877
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    You are welcome (but please ask in the Ask the Tutor Forum in future if you wish me to answer – this forum is for students to help each other) 🙂

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Viewing 8 posts - 1 through 8 (of 8 total)
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