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    Cost MGT& Acc II

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    Hunde
    This document provides an assignment for a Cost and Management II course, including discussion questions about budgets, variances, and cost analysis, as well as two worked problems calculating various cost and variance amounts. Students are instructed to complete the assignment based on the units covered, and to attach any clarification questions, with the assignment due to their study center.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Cost MGT& Acc II

    Uploaded by

    Hunde
    236 views3 pages
    This document provides an assignment for a Cost and Management II course, including discussion questions about budgets, variances, and cost analysis, as well as two worked problems calculating various cost and variance amounts. Students are instructed to complete the assignment based on the units covered, and to attach any clarification questions, with the assignment due to their study center.

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    cost Mgt& Acc II

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    This document provides an assignment for a Cost and Management II course, including discussion questions about budgets, variances, and cost analysis, as well as two worked problems calculating various cost and variance amounts. Students are instructed to complete the assignment based on the units covered, and to attach any clarification questions, with the assignment due to their study center.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    236 views3 pages

    Cost MGT& Acc II

    Uploaded by

    Hunde
    This document provides an assignment for a Cost and Management II course, including discussion questions about budgets, variances, and cost analysis, as well as two worked problems calculating various cost and variance amounts. Students are instructed to complete the assignment based on the units covered, and to attach any clarification questions, with the assignment due to their study center.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    QUEENS’ COLLEGE

    DISTANCE EDUCATION DIVISION

    TEL. 011-8-12-19-82

    ASSIGNMENT

    ON

    Cost and Management II

    Date: - _____________

    Total Weight: - 30 %

    Name: - ____________________________ ID NO: - ______________

    Department: -_______________ Study center: -_____________ Entry year: - ___________

    Program: DEGREE

    EThis is the only assignment of this course.

    EThis assignment is to be completed and submitted to the office of your center. Do not
    attempt the assignment until you are certain that you have understood the units it covers
    and have revised your self-test exercises and learning activities, and other necessary
    references.

    EIf you have any question about the units and activities, state the item/s clearly on a
    separate sheet of paper and attach to your assignment paper .
    Part One Discussion Questions
    1 What is the master budget and why is it useful?

    2 What is the operating budget and what are its components?

    3 What are static budgets and static-budget variances?

    4 How can managers develop a flexible budget and why is it useful to do so?

    5 What is a standard cost and what are its purposes?

    6 What is benchmarking and why is it useful?

    7 What is the relationship between the sales-volume variance and the production-volume variance?

    8 How can variance analysis be used in an activity-based costing system?

    9 How are overhead variances useful in nonmanufacturing settings?

    10 How do managers plan variable overhead costs and fixed overhead costs?

    Part Two: Workout Questions


    11 In August 2001, East Publishing Company’s costs and quantities of paper consumed in
    manufacturing its 2002 Executive Planner and Calendar were as follow:
    Actual unit purchase price Br 0.16 per page
    Standard quantity allowed for good production 195,800 pages
    Actual quantity purchased during August 230,000 pages
    Actual quantity used in August 200,000 pages
    Standard unit price Br 0.15 per page
    Required:
    a) Calculate the total cost of purchases for August.
    b) Compute the material price variance on the bases of purchase
    c) Calculate the material quantity variance.
    d) Total FBV

    12 Sagittarius Corp. has established the following standards for the prime costs of one of its chief
    product, dart boards.
    Standard Qty standard Price (Rate) Total Standard cost
    Direct material 8.5 pounds Br.1.80/pound Br.15.30
    Direct labor 0.25 hour 8.00/hour 2.00
    Br.17.30
    During May, Sagittarius purchased 160,000 pounds of direct material at a total cost of Br.304,
    000. The total wages for May were Br.42, 000, 90% of which were for DL. Sagittarius
    manufactured 19,000 dart boards during May; using 142,500 pounds of direct material & 5,000
    direct labor hours.
    Required: Compute the following variances for May.
    a) Direct material price variances
    b) Direct material usage variance
    c) Direct material cost variance
    d) Direct labor rate variance
    e) Direct labor efficiency variance
    f) Direct labor cost variance

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