management accounting practise questions

Hello, first of all i want to congratulate you for the excellent job that you are doing at the group and help students to understand the accounting .
Here are some questions that i dont have the answers for my revision ,it will helps me lot if you can answer them for me to help me see if i did them correct
MX1uses absorption costing for the recovery of overheads based on budgeted machine hours. It produces one type of product only. The budget and actual performance for the month of May was as follows.

1

Budget Actual

Overheads £2,400,000 £2,480,000

Labour Hours 85,000 83,000

Machine Hours 40,000 42,000

Output in Units 60,000 62,000

What was the total Fixed Overhead Variance for May?

A.
£0.00

B.
£28.23

C.
£72.60

D.
£63.50

2

A factory consists of two production cost centres (P and Q) and two service cost centres (X and Y).

The total allocated and apportioned overhead for each is as follows:

P Q X Y

£95,000 £82,000 £46,000 £30,000

It has been estimated that each service cost centre does work for other cost centres in the following proportions:

P Q X Y

Percentage of service cost centre X to 50% 50% 0% 0%

Percentage of service cost centre Y to 30% 60% 10% 0%

The reapportionment of service cost centre costs to other cost centres fully reflects the above proportions.

After the reapportionment of service cost centre costs has been carried out, what is the total overhead for production cost centre P?

A.
£124,500

B.
£126,100

C.
£105,500

D.
£128,500

3

A company makes two products, Product R and Product S. The company faces difficulties with a shortage of skilled labour to make Product R and Product S.

Budget Data:

Product R Product S

Selling Price per unit £1050 £900

Material Cost per unit £510 £450

Labour Cost per unit £220 £270

Contribution per labour hour £320 £180

Expected hours 4 hours 2 hours

Expected demand 25 units 20 units

If there are only 120 hours available for the month, how many units of Product R and Product S should they carry out to optimise the throughput of each unit?

A.
20 units of Product R and 20 units of Product S

B.
10 units of Product R and 40 units of Product S

C.
30 units of Product R and 0 units of Product S

D.
15 units of Product R and 30 units of Product S

4

Slack and Alice Ltd set a monthly direct labour budget for their single product, details of which are as follows.

Budgeted Production

270 units

Direct Labour Hours

810

Wage Cost

£4,050

Actual results for May were as follows

Production

300 units

Direct Labour Hours

1,140

Wage Cost

£5,586

During the year it was realised that, due to a planning error, the original standard cost was unrealistic and accordingly the standard was revised as follows:

Revised standard: 4 direct labour hours at £4.50 per hour

The standard for the material content of one unit was set £15, made up of 3kg at a standard cost of £5 per kg. However during the year it was realised that there had been an error in the planning department and that the standard material content should have been 4.5kgs per unit. Information for the year showed:

Budgeted output

1,000 units

Actual output

1,200 units

Material purchased and used

5,500 kg

Price paid per kg

£5.80

The materials usage planning variance was:

A.
£1,160 adverse

B.
£8,700 adverse

C.
£9,000 adverse

D.
£27,500 adverse