Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. required use the information provided below to cal

REQUIRED Use the information provided below to calculate the following variances. Each answer must indicate...

50.1K

Verified Solution

Question

Accounting

REQUIRED Use the information provided below to calculate the following variances. Each answer must indicate whether the variance is favourable or unfavourable. 1.3.1 Material quantity variance (4 marks) 1.3.2 Labour rate variance (4 marks) 1.3.3 Variable manufacturing overheads efficiency variance (4 marks) INFORMATION The standard variable costs per unit (with a standard quantity of 25 000 units), set by Kidman Manufacturers, for Product M are as follows: Materials 4 kg at R10 per kg Labour 2 hours at R20 per hour Variable overhead 2 hours at R12 per hour The actual costs for October 2022 are as follows: Materials 100 000 kg were purchased for R980 000 Materials 78 000 kg were used to produce 20 000 units of Product M Labour 41 000 labour hours at R19.60 per hour Variable overhead R500 200 incurred

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

Small-business telephone users were surveyed 6 months after access to carriers other than Carrier A became...

Statistics
Q

Calculate V and Z for methyl chloride at 100 ° C and 55bar for the...

Mechanical Engineering
Q

In a rising interest rate environment, how would bond values change over time? As a bond...

Finance
Q

9 The figures below show the stages of syphilis Using numbers order them according to...

Biology
Q

Match the entries of column I with the entries of column II Considering all the...

Physics
Q

6 In the circle below LA 4x 4 mzB 7x mzC 5x 41 and m...

Geometry
Q

Use the hypothetical information in the following table to answer the questions that follow Country...

Basic Math
Q

Simplify completely assuming both x 0 and y 0 81x y8

Calculus
Q

Do you think contingent gains should be disclosed in the financial statements? Defend your position.

Accounting
Q

during the pervios years east fellow

Accounting
Q

Direct Labor Variances Tip Top Corp. produces a product that requires 10.0 standard hours per...

Accounting
Q

d. Vargo's property plant and equipment salvage value of $40,000 with a 15 vear life...

Accounting