The following details have been extracted from the payables' records of X Co:
Invoices paid in the month of purchase 25%
Invoices paid in the first month after purchase 70%
Invoices paid in the second month after purchase 5%
Purchases for July to September are budgeted as follows:
July $250,000
August $300,000
September $280,000
For suppliers paid in the month of purchase, a settlement discount of 5% is received. What is the amount budgeted to be paid to suppliers in September?
The amount budgeted to be paid to suppliers in September is $289,000
Workings Paid in Month
July $ August September October November
Purchases $ $ $ $ $
July $250,000 59.375(1) 175,000(2) 12,500(3)
August $300,000 71,250(4) 210,000(5) 15,000(6)
September $280,000 66,500(7) 196,000(8) 14,000(9)
289,000
1 $250,000 x 25% x0.95 = $59.375
2 $250,000 x 70% =$175,000
3 $250,000 x 5% =$12,500
4 $300,000 x 25% x0.95 =$71,250
5 $300,000 x 70% =$210,000
6 $300,000 x 5% =$15,000
7 $280,000 x 25% x0.95 =$66.500
8 $280,000 x 70% =$196,000
9 $280,000 x 5% =$14,000
多做几道
A company uses a standard absorption costing system. Last month budgeted production was 8,000 units and the standard fixed production overhead cost was $15 per unit. Actual production last month was 8,500 units and the actual fixed production overhead cost was $17 per unit.What was the total adverse fixed production overhead variance for last month?
A cost centre had an overhead absorption rate of $4.25 per machine hour, based on a budgeted activity level of 12,400 machine hours.In the period covered by the budget, actual machine hours worked were 2% more than the budgeted hours and the actual overhead expenditure incurred in the cost centre was $56,389.What was the total over or under absorption of overheads in the cost centre for the period?
Which of the following would help to explain a favourable direct labour efficiency variance?
(i) Employees were of a lower skill level than specified in the standard
(ii) Better quality material was easier to process
(iii) Suggestions for improved working methods were implemented during the period
Which of the following statements is correct?
The following information relates to labour costs for the past month:
Budget Labour rate $10 per hour
Production time 15,000 hours
Time per unit 3 hours
Production units 5,000 units
Actual Wages paid $176,000
Production 5,500 units
Total hours worked 14,000 hours
There was no idle time.
What were the labour rate and efficiency variances?
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