Problem Set 1 - MGT C06F 2010-11 PROBLEM SET#1 Due date...

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Unformatted text preview: MGT C06F 2010-11 PROBLEM SET #1 Due date: Tuesday October 12, 2010 Please remember to attach a coloured cover sheet (see Course Outline) indicating the course code (MGT C06F), section (L01 or L02) your name and student number. Show supporting calculations. 911mm. Standard Usage per Finished Unit uurrs OF STANDARD TIME PER RAW MATERIALS LABOR OPERATION iN HOURS FINISHED PRODUCT A . a 1 2 a 4 x 3 1 1 2 _ _ Y a 2 1 — a — z 3 3 1 2 3 1 , JoumdmbiafirdmdardoperaflbnmsflngAmachiningdeparunentinSinga- pore work on three varieties of a basic product. The product contains two raw materials and entails a sequence of from two to four Operations,- depending on the model type. Standard Prices and Labor Rates Raw material A. $5 per unit Raw material a, $1 per unit Labor rates, which are typical in Singapore, are $2.40, $3.00, $3.20, and $4.00, respectively. in the \ liltd:.;:'-;.;'.‘J'A'.:~\{.-wr.'k. ..:..-. . s: , tour successive Operations} Operating Data Purchases: Material A 120,000 units $612,000 Material B 65,000 units 61 .750 Material requisitions: issued irom stores: A B Standard quantity 105,000 61,000 Over standard 5,000 3,000 Returned to stores 400 Direct labor. OPERATION ACTUAL HOURS TOTAL ACTUAL COST 1 36,000 $ 90.000 2 48.000 144,960 3 58,000 1 74,000 . 4 6,900 28,980 $437,940 There are no beginning or ending work-in-procecs inventories. Units produced were X,’ 16,000; Y, 12,000; and 2, 7,000. REQUIRED 1. Accompany each journal entry with a ._.__. . . . dammit. ._ , Prime standard 0630: per unit for Products X, Y, and Z. Show computations. What are some of the frequent causes for the variances computed in reguirement I? What is the merit of isolating price variances as materials are purchased rather than as they are issued? 2. 3. 4 Journal entries, assuming that material-price variances are isolated upon purchase. detailedanalysis ofvaxianmsasfarasthe M W Easy . pledge wwwmmmym-bmmmummd meefimAbywismhIMMthofiflnqmF ityand themfadudngmdadxbsyflidumcyde. Narryflyau,niemnnhcmflngmamgerd&sym.bsphyadahymkhm abwlimpmmmbhmubdummadfispufl,m,flywhuhadmmp ingbattlewilh weptefidemdbsykidrrahomlhcmpensafionlohermmbaum supervisors Endlwpafismisinchaggdnsepuamacfiviqminmemubdmins pinhflrmtcompumfionxhemmmmfilhawm busedmlfldflnmmdkhwdheammkvadamsmdflrfourmmhdnm overhead variances when that sum is favorable. paint: .mmi-Ispfiuvarhnu WWW WWW Mmmmmawddmm-JMmme-gnn WWWWMhBRMfidWWfi-gma mammm-mmmmmwdum ”dummmmmumdmmm aymhflhm—Machl’fiqwhwmflsflnufivflgammmm ummmmwthWIQJmm mum WMMMww 2.2a. WWMMparbh 2.0m wmwuummm M mm’mnummm 51w ”may“: WWW -flowmulut WWW ~81W Win-um -uao.ooo WWW -uau.ooo wmmwmcmm mmmww -o.mms Wyndham-I9 -22,onom WWW uvmm WWW nmm Vadabhudfindwddhgnmulflfingmhadbappfldhmquedut mWfithfifitymethfighfwm mmmmmwmmmdmmmmm methwm-fivflym ShrfinghPebmuyl’JEasyRidaaludmmuddnfiamhdgnm mmthMaMMhMWMMM Required 1. Cmnwwmmwmmmmmym forflujanuary-Mudi 19.6w 7- wwaxnmmauymmmmmmmh 1h": bury—Matti: 19.6 peliod. Shannan “Input-lions. 3- memwwhmkmmummmmw desyWsmumthfieMW-m 19.6pu-bd. t ammounmmmmmmmmdwmmmm mlume variance in the bonus calculation [mach adivityam sum. ...
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