You are required to calculate: vii) Variance of fixed overhead expenses viii) Variance of fixed overhead volume
You are required to calculate: vii) Variance of fixed overhead expenses viii) Variance of fixed overhead volume
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products
Section: Chapter Questions
Problem 3E: The following data appeared in the accounting records of Craig Manufacturing Inc., which uses the...
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Neelopak Berhad prepared the
Direct Labour (0.65 hours @ RM11) RM7.15
Direct Materials (5 meters @ RM5) RM25
Variable
Fixed Overhead (0.65 hours @ RM3) RM1.95
Standard cost per unit RM38.65
There is the actual cost data information:
Production 7,500 unit
Direct materials used (23500 meter) RM124,550
Direct materials purchasing (24,000 meter) RM132,000
Direct labor (3000 hours) RM34,500
Variable overhead RM21,600
Fixed overhead RM7,800
Budgeted activities are 2,600 hours.
You are required to calculate:
vii) Variance of fixed overhead expenses
viii) Variance of fixed overhead volume
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