Group Discussion Meeting 10 - Answer

Group Discussion Meeting 10 - Answer - GROUP DISCUSSION...

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GROUP DISCUSSION MEETING 10 ACCA TRAINING COURSE - BATCH III Paper : F2 Management Accounting Day / Date : Sunday / February 28, 2016 Duration : 30 Minutes Test Method : Open Book Instructors : Natalis Christian, SE., MM Leini, SE The following information relates to questions 1 and 2. A company expected to produce 200 units of its product, the Bone, in 20X3. In fact 260 units were produced. The standard labour cost per unit was \$70 (10 hours at a rate of \$7 per hour). The actual labour cost was \$18,600 and the labour force worked 2,200 hours although they were paid for 2,300 hours. 1. What is the direct labour rate variance for the company in 20X3? A \$400 (A) C \$2,500 (A) B \$2,500 (F) D \$3,200 (A) 2. What is the direct labour efficiency variance for the company in 20X3? A \$400 (A) C \$2,800 (A) B \$2,100 (F) D \$2,800 (F) 3 Extracts from a company’s records from last period are as follows. Budget Actual 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?

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