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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. Answers (1)
- Discuss the following:
1. Variable Overhead Variances
2. Fixed Overhead Variances
3. Sales Margin Variance
(Solved)
Discuss the following:
1. Variable Overhead Variances
2. Fixed Overhead Variances
3. Sales Margin Variance
Date posted: August 7, 2019. Answers (1)
- Discuss on Labour Cost Variances(Solved)
Discuss on Labour Cost Variances
Date posted: August 6, 2019. Answers (1)
- Explain Material Cost Variance(Solved)
Explain Material Cost Variance
Date posted: August 6, 2019. Answers (1)
- Illustrate the Structure of variances(Solved)
Illustrate the Structure of variances
Date posted: August 6, 2019. Answers (1)
- Explain the establishment of standards or Setting standards(Solved)
Explain the establishment of standards or Setting standards
Date posted: August 6, 2019. Answers (1)
- Which factors must be considered in standard costing?(Solved)
Which factors must be considered in standard costing?
Date posted: August 6, 2019. Answers (1)
- 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. Answers (1)
- Show the difference between Historical cost and Standard cost(Solved)
Show the difference between Historical cost and Standard cost
Date posted: August 6, 2019. Answers (1)
- Compare and contrast on Budgetary Control and Standard Costing(Solved)
Compare and contrast on Budgetary Control and Standard Costing
Date posted: August 6, 2019. Answers (1)
- Define the term Standard costing(Solved)
Define the term Standard costing
Date posted: August 6, 2019. Answers (1)
- What does Standard Costing involve?(Solved)
What does Standard Costing involve?
Date posted: August 6, 2019. Answers (1)
- 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. Answers (1)
- 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. Answers (1)
- 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. Answers (1)
- 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. Answers (1)
- In the manufacture of product vitality 2000 kgs of material at kshs 5kg were supplied to process 1.(Solved)
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.
Required: Prepare process 1 account
Date posted: August 6, 2019. Answers (1)
- What is meant by Process loss scrap and waste?(Solved)
What is meant by Process loss scrap and waste?
Date posted: August 6, 2019. Answers (1)
- Njenga Limited is a construction Co. whose financial year end is 31st March.(Solved)
Njenga Limited is a construction Co. whose financial year end is 31st March. The information provided was extracted from the books of the company in contraction with three construction contracts undertaken by the company during the financial year ended 31st March 2005
Required:
Using the percentage of completing method of accounting for long term construction contract:
1. Calculate profit/less realized on each contract for the year ended 31st March 2005.
2. Prepare profit and loss extract for each contract for year ended 31st March 2005.
3. Prepare balance sheet extract as at 31st March 2005.
Date posted: August 6, 2019. Answers (1)
- A small bridge is to be constructed by the beginning of the year at a fixed price of sh 900,000 with estimates contract cost of...(Solved)
A small bridge is to be constructed by the beginning of the year at a fixed price of sh 900,000 with estimates contract cost of sh 750,000 in year one. The following summaries are presented:
Required:
a) Prepare a statement showing the profit recognized in each year.
b) Balance sheet extract.
c) Journal entries to account for the extraction
Date posted: August 6, 2019. Answers (1)