Standard costing provides which of the following?
(i) Targets and measures of performance
(ii) Information for budgeting
(iii) Simplification of inventory control systems
(iv) Actual future costs
A unit of product L requires 9 active labour hours for completion. The performance standard for product L allows for ten per cent of total labour time to be idle, due to machine downtime. The standard wage rate is $9 per hour. What is the standard labour cost per unit of product L?
A company manufactures a single product L, for which the standard material cost is as follows.
$ per unit
Material 14 kg x $3 42
During July, 800 units of L were manufactured, 12,000 kg of material were purchased for $33,600, of which 11,500 kg were issued to production.
SM Co values all inventory at standard cost.
What are the material price and usage variances for July?
Extracts from a company's records from last period are as follows.
Budget ActuaI
Production 1,925 units 2,070 units
Variable production overhead cost $11,550 $14,904
Labour hours worked 5,775 8,280
What are the variable production overhead variances for last period?
A company has budgeted to make and sell 4,200 units of product X during the period.
The standard fixed overhead cost per unit is $4.
During the period covered by the budget, the actual results were as follows.
Production and sales 5,000units
Fixed overhead incurred $17,500
What are the fixed overhead variances for the period?
A company manufactures a single product, and relevant data for December is as follows.
Budget/standard Actual
Production units 1,800 1,900
Labour hours 9,000 9,400
Fixed production overhead $36,000 $39,480
What are the fixed production overhead capacity and efficiency variances for December?
【单项选择题】
What is the non-discounted payback period of Project Beta?
What is the discounted payback period of Project Alpha?
What is the difference between a budget and a forecast?
Explain what is meant by the principal budget factor