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August 27, 2014

Homework Help: managerial accounting

Posted by steve on Friday, February 12, 2010 at 6:16am.

Tusk pty ltd uses standard costs system for its single product in which variable manufacturing overheads is applied on the basis of direct labour hours. The following information is given:
Standard costs:
Raw material[R16per kg] Per unit R 24.00
Direct labour[0.75hour] p
er unit R6.00
Variable manufacturing overhead cost incurred [0.75hour@ R3.00] per unit
R2.25
Actual information for current year:
Units produced 22400
Purchases of rawmaterial[21000kg - R357000.00
Raw material used 33400 kg
Direct labour[ 8.50 perhour] R142375.00
Variable manufacturing overhead cost incurred R 48575.00

Required:\
1. Direct labour price variance
2. Direct material quantity variance
3. Direct labour variance
4.Direct labour efficiency variance
5. Variable manufacturing overhead expenditure variance
6. variable manufacturing overhead efficiency variance

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