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List and explain Accounting Entries for Variances
(Solved)
List and explain Accounting Entries for Variances
Date posted:
August 7, 2019
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Answers (1)
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The budgeted and actual profit statements of ideal Manufacturers Ltd for the latest financial year are given below:-
(Solved)
The budgeted and actual profit statements of ideal Manufacturers Ltd for the latest financial year are given below:-
Prepare a statement reconciling the budgeted profit of Shs 160,000 to the actual profit of Shs 132,000.
Date posted:
August 7, 2019
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Answers (1)
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Easy Wash Ltd. Produces powder sap for household use. The standard direct costs per carton containing 20 packets of one kilogrammes each are as follows:-
(Solved)
Easy Wash Ltd. Produces powder sap for household use. The standard direct costs per carton containing 20 packets of one kilogrammes each are as follows:-
Raw Materials:
Required:
(a) Price and usage variances for each raw material
(b) Labour rate and efficiency variances
(c) Sales price and volume variances
(d) Overhead expenditure variances
Date posted:
August 7, 2019
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Answers (1)
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From the following information, calculate the sales variances.
(Solved)
From the following information, calculate the sales variances.
Date posted:
August 7, 2019
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Answers (1)
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Calculate the fixed overhead variance from the information set out below:-
(Solved)
Calculate the fixed overhead variance from the information set out below:-
Date posted:
August 7, 2019
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Answers (1)
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Calculate the variable overhead variances from the information below:-
(Solved)
Calculate the variable overhead variances from the information below:-
Date posted:
August 7, 2019
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Answers (1)
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Discuss on Labour Cost Variances
(Solved)
Discuss on Labour Cost Variances
Date posted:
August 6, 2019
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Answers (1)
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Explain Material Cost Variance
(Solved)
Explain Material Cost Variance
Date posted:
August 6, 2019
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Answers (1)
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Illustrate the Structure of variances
(Solved)
Illustrate the Structure of variances
Date posted:
August 6, 2019
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Answers (1)
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Explain the establishment of standards or Setting standards
(Solved)
Explain the establishment of standards or Setting standards
Date posted:
August 6, 2019
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Answers (1)
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Which factors must be considered in standard costing?
(Solved)
Which factors must be considered in standard costing?
Date posted:
August 6, 2019
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Answers (1)
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Discuss the Types of standards in the cost accounting context
(Solved)
Discuss the Types of standards in the cost accounting context
Date posted:
August 6, 2019
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Answers (1)
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Show the difference between Historical cost and Standard cost
(Solved)
Show the difference between Historical cost and Standard cost
Date posted:
August 6, 2019
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Answers (1)
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Compare and contrast on Budgetary Control and Standard Costing
(Solved)
Compare and contrast on Budgetary Control and Standard Costing
Date posted:
August 6, 2019
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Answers (1)
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Define the term Standard costing
(Solved)
Define the term Standard costing
Date posted:
August 6, 2019
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Answers (1)
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What does Standard Costing involve?
(Solved)
What does Standard Costing involve?
Date posted:
August 6, 2019
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Answers (1)
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During a period 3000 units of a main product were produced at sh 60 per unit.
(Solved)
During a period 3000 units of a main product were produced at sh 60 per unit. Total production were sh 125000. A by product was produced together with main product. This by-product was 100 units and it was sold for sh 55 per unit post separation cost of this by product were sh 500. Calculate the production cost and profit of the main product.
Date posted:
August 6, 2019
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Answers (1)
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The following data relates to three products XYZ
(Solved)
The following data relates to three products XYZ
Required:
Calculate profit made by each product apportioning joint costs on;
i) Sales value bases
ii) Physical unit bases
Date posted:
August 6, 2019
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Answers (1)
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In a specific period production and cost data was as follows:
(Solved)
In a specific period production and cost data was as follows: Production was 1,600 full complete units and 400 partly complete units. The degree of completion of the 400 units WIP was as follows:
Required:
a) Calculate total equivalent unit
b) Cost per unit of complete units
c) Show the value of W.I.P
Date posted:
August 6, 2019
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Answers (1)
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Using the data given below, show process 1 account where normal loss has a scrap value of sh1.8 per kilo.
(Solved)
Using the data given below, show process 1 account where normal loss has a scrap value of sh1.8 per kilo.
In the manufacture of product vitality 2000 kgs of material at kshs 5kg were supplied to process 1. Labour cost amounted to sh 3,000 and production overheads sh 2,300, normal loss has been estimated at 10% . The actual product after process was 1750kg.
Date posted:
August 6, 2019
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Answers (1)