• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

standard costing and variances

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › standard costing and variances

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • February 21, 2021 at 9:13 am #611171
    pdonkor
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Question :
    The Perseus Co a medium sized company, produces a single product in its one overseas
    factory. For control purposes, a standard costing system was recently introduced.
    The standards set for the month of May were as follows:
    Production and sales 16,000 units
    Selling price (per unit) $140
    Materials:
    Material 007 6 kilos per unit at $12.25 per kilo
    Material XL90 3 kilos per unit at $3.20 per kilo
    Labour 4.5 hours per unit at $8.40 per hour
    Overheads (all fixed) $86,400 per month.
    (They are not absorbed into the product costs)
    The actual data for the month of May is as follows:
    Produced 15,400 units which were sold at $138.25 each
    Materials: Used 98,560 kilos of material 007 at a total cost of $1,256,640 and used 42,350
    kilos of material XL90 at a total cost of $132,979.
    Labour: Paid an actual rate of $8.65 per hour to the labour force. The total amount paid
    out, amounted to $612,766.
    Overheads (all fixed): $96,840
    Required: compute for
    a. material price and usage variance for material x & y
    b. labour rate and hours variance
    c. sales price & sales volume variance

    February 21, 2021 at 1:12 pm #611193
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51909
    • ☆☆☆☆☆

    Please do not simply type out full questions and expect to be provided with a full answer.

    You must have an answer in the same book in which you found the question, so ask about whatever it is you are not clear about in the answer and then I will explain.

    Everything needed to be able to explain about is explained in my free lectures. The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • darshan.69 on MA Chapter 7 Questions Accounting for Labour
  • Naseam on Chapter 8 – Partnerships – ACCA Taxation (TX-UK) lectures
  • valentini on Relevant cash flows for DCF Taxation (example 4) – ACCA Financial Management (FM)
  • Naseam on Chapter 7 – Tax Adjusted Trading Losses – Individuals – ACCA Taxation (TX-UK) lectures
  • John Moffat on Financial management objectives – ACCA Financial Management (FM)

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy