Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. coursherotranscribedtext: 3. m&m makes product e,

CoursHeroTranscribedText: 3. M&M makes Product E, the standard costs of which are: Sales Revenue $40...

90.2K

Verified Solution

Question

Accounting

image
CoursHeroTranscribedText: 3. M&M makes Product E, the standard costs of which are: Sales Revenue $40 Direct labour (1 hour) (13) Direct materials (1 kg) (12) Fixed overheads (5) Standard profit 10 The budgeted output for March 2021 was 1,000 units; however, the actual production was 1,100 units sold for (44,400. There were no inventories at the start or end of March. The actual production costs were: Direct labour (1,075 hours) 14,513 Direct Materials (1, 170 kg) 13,455 Fixed overheads 5,700 Calculate the variance for March from the available information and use them to reconcile the budgeted and actual profit figures? (8 Marks) How will a flexible budget help this company to identify the budget variance? (2 Marks)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

the canadian government has been cracking down for small entrepreneur at tax time, looking for more...

Operations Management
Q

You are a highly ranked Supply Chain Management executive in your company. Choose one of these regions: •Sub-Saharan...

General Management
Q

XYZ manufactures seats for helicopters. The company has the capacity to produce 100,000 seats per year,...

Accounting
Q

91 A projectile is projected from ground with veloci 0 V at an angle 0...

Physics
Q

The graph of gx y f x and g x f x is shown Sketch...

Geometry
Q

An agent s implied authority to perform any act reasonably necessary to execute express authority...

Basic Math
Q

the perimeter of a rectangle is 48 what is the length of the sides

Algebra
Q

ih 7: Homework Question 9 of 12 -75 View Policies...

Accounting
Q

HW QUESTION!?! The master budget and flexible budgets are important aids to management in performing...

Accounting
Q

Measuring net income for a merchandiser is conceptually the same as for a service business....

Accounting
Q

Question 2/10 She has always used the standard mileage rate and keeps track of her...

Accounting
Q

What ratios would best indicate problems with potential inventory obsolescence or collectibility of receivables? How...

Accounting