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VARIANCE ANALYSIS

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › VARIANCE ANALYSIS

  • 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
  • November 18, 2020 at 3:21 pm #595477
    colin
    Member
    • Topics: 2
    • Replies: 2
    • ☆

    Dear tutor i have a problem with this question below:

    Direct material:2 meters of wool @ $ 625 per meter 1,250
    Direct labor 4 hours @ $ 820 per hour 3,280
    Cost per unit 4,530

    Budgeted selling price of each Ted bear is $ 6,250
    200 Ted bears are expected to be produced and sold every month at $ 6,550 per Ted bear. Actual results for the month of April 2016 were as follows:

    Ted bears produced& sold (units) 180
    Material purchases (meters) 400
    Total cost of purchases($) 280,000
    Direct labor ($) 540,000
    Fixed costs($) 320,000

    Required:
    1) Actual profit for the month of April 2016
    2) Material price variance
    3) Material usage variance
    4) Sales price variance
    5) Sales volume
    6) Labor rate variance

    I know all the formulae but my problem is getting the actuals in the second table.

    November 19, 2020 at 7:43 am #595522
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

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

    I have no idea what ‘table’ you are referring to, because you do not need a table.

    The actual figures are all given in the question.

  • Author
    Posts
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