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of the production departments. The standard composition of workers and wage rates per hour were as follows. Skilled: Two workers at a standard rate of Rs.20 per hour each Semi-Skilled: Four workers at a standard rate of Rs.12 per hour each Unskilled: Four workers at a standard rate of Rs.8 per hour each. The standard output of the gang was four units per hour of the product. During the month in uestion, howe!er the actual composition of the gang and hourly rates paid were as under Skilled: 2 workers " Rs.20 per hour Semi-Skilled: # workers " Rs.1$ per hour Un-skilled: % workers " Rs.10 per hour The gang was engaged for 200 hours during the month, which included 12 hours when no production was possi&le due to the machine &reakdown. 810 units of the product was recorded as output of the gang during the month. 'alculate !arious la&our !ariances. Solution: The following ta&le is prepared to compute the !ariances. Category of Workers Standard Composition of Gang 2 $ $ Standard Rate Rs. 20 12 8 $0 Standard Cost Rs. $0 $8 #2 120 Actual Composition of Gang and number of hrs 2 ) 200 * $00 # ) 200 * ,00 % ) 200 * 1000 10 ) 200 * 2000 Actual Rate Rs. 20 1$ 10 Actual Cost Rs. 8, 000 8, $00 10, 000 2,, $00

(killed (emi+skilled -n+skilled Total ./

Labour Cost Variance: (tandard 'ost for 0ctual 1roduction 2 0ctual 'ost

Ra.2$, #00 2 Rs.2,, $00 * Rs.2, 100 30/ 4ote5 (tandard la&our cost for actual production5 For 1 man+hour the standard cost is Rs.120 as shown in the ta&le. .n one hour $ units are produced and so the standard la&our cost per unit is Rs.1206$ units * Rs.#0 per unit. Thus standard la&our cost for actual production will &e 810 units ) Rs.#0 * Rs.2$, #00. 0ctual la&our cost is shown in the ta&le. ../ Labour Rate Variance: 0ctual 7ours 3(tandard Rate 2 0ctual Rate/ (killed5 $00 3Rs.20 2 Rs.20/ * 4il (emi+skilled5 ,00 3Rs12 2 Rs.1$/ * Rs.1200 30/ -n+skilled5 1000 3Rs.8 2 Rs.10/ * Rs.2000 30/ Total 8a&our Rate 9ariance * Rs.#200 30/

Problem 2

The standards material cost to produce a ton of chemical ) is gi!en &elow5 #00 kg of material 0 " Rs.10 per kg

000 * $#.% 3$0.= ) Rs. 000 Actual Rate Rs.10 2 Rs. 000 * #2. * Rs. the standard cost is Rs.. 000 per ton %# tons of material ' " Rs.10 * Rs. Rs. the standard cost is Rs. 000 * Rs.1.2.. 000/ * Rs... 000 2..%0.. Standard Cost Rs. 000 Total standard cost of standard mi. 000 . * Rs. 000 30/ @aterial 0 * Rs. 100 tons of mi.% 2 Rs. 000 0 : ' Total . would ha!e &een in the standard proportion. . %00 ) Rs.$2.= (tandard cost of actual mi. #8.. 000 2 Rs. 000 %#.. 000 3Rs. 000 30/ @aterial ' * Rs. =1./ * Rs. !ariances. ###. 000/ * Rs. : and ' would ha!e &een.. 3%0.=.=/ * Rs.. price. 2 Rs.10.$00 kg of material : " Rs.## ) Rs.f 0ctual mi. 000 $2. 000 30/ Total @aterial >uantity 9ariance * Rs.. 000 2 %#..8.= 2 Rs.8.8. = Actual Amount Rs. ? ? ? ? ? 05 #0061200 :5 $0061200 '5 %0061200 1./ Material Cost Variance: (tandard 'ost 3for actual production/ 2 0ctual 'ost Rs. #000 2000 #000 8000 Actual !uantity "g #%.8. and usage and mi. 000 1.0. #8. the uantities of material 0.10 3#0.ture ) was produced from the usage of #% tons of material 0 " Rs. 000 per ton $2 tons of material : " Rs. has &een computed &y multiplying the actual uantity &y the standard cost. 000 3Rs. 000 * %$.. =8. 2%. 000 #.. per kg During a particular period. "g #00 kg $00 %00 1200 10 % .= 1. 000/ * Rs.. 000 <. 2 (td 'ost of 0ctual @i. < .<. 000 30/ Total @aterial 1rice 9ariance * Rs. 00. ./ Material Price Variance: 0ctual >uantity 3(TD 1rice 2 0ctual 1rice/ ? ? ? ? ? ? ? ? @aterial 0 * #%. 000 2 #%.. #8. 000 3Rs.8./ Material Quantity Variance * (tandard 1rice 3(TD >uantity 2 0ctual >uantity/ . 000 1..#. #0. 000 30/ . 00. 1.=8. %2.11. 1.%#. is computed as under ? .18. 000. #0. .<.% * Rs. #0. #0. .</ * Rs. 1%. 000 per ton 'alculate material cost. .#%.% per kg %00 kg of material ' " Rs. 000 30/ @aterial : * Rs. aterial Standard Standard !uantity Rate Rs... 000 2 $2.#. 000 * Rs. 2%.. ### ? 4ote5 (tandard 'ost of (tandard @i. 000 30/ 4ote5 (tandard cost of materials for actual production5 For 1 ton of production.. 000 3F/ @aterial : * $2.9/ Material Mix Variance * (td 'ost of (td @i. .. 000 30/ @aterial ' * %#. Solution: The following ta&le is prepared for computation of the !ariances. #.8. so for 100 tons.

#$0 per ton 0ctual production produced was 182 tons of the Bnished goods. .ture is as follows5 $0A of @aterial 0 " Rs.Problem # The standard cost of a certain chemical mi.#00 per ton 0 standard loss of 10A is e. 'alculate @aterial 1rice 9ariance. Solution : The following statement will ha!e to &e prepared for calculation of the material !ariances. 9ariance and @aterial Cield 9ariance.pected in the production. @aterial @i. During a particular period materials used are. @aterial -sage 9ariance.0A of @aterial : " Rs.180 per ton 110 tons @aterial : " Rs. <0 tons @aterial 0 " Rs.200 per ton .

. @i..2.000 @aterial : .8 00 3F/ @aterial : *1103#00+ #$0/* Rs. 2 (td.2.#<. Cield Rate30ctual Cield 2 (tandard yield/ 2.ed o!erhead e.#$0 per ton * 200 tons * Rs. Rs..$00 @aterial 1rice 9ariance + 0> 3 (1 2 01/ * @aterial 0 * <03200+180/* Rs.0 tons " Total 100 tons * 8ess5 10A (td..%#. 'ost of 0ctual @i.#00 * Rs.. 000 Rs. 00 30/ .9/ @aterial Cield 9ariance 2 (td.$ 0030/ Total 1rice 9ariance * Rs.%1.12.2./ Fi.%00 3F/ ..18. 'ost of (td.000 Rs./ 9aria&le o!erhead !ariance .000 3F/ .Standards @aterial 0 $0 tons " Rs.%==. 000 Actual 'alculate the following o!erhead !ariances .800 units 21 Rs.200 Rs.#=.. 0006<03182+180/ * Rs. ./ @aterial -sage 9ariance (1 3(> 2 0>/+ @aterial 0 * 200381+<0/* Rs.200 * Rs.000 * Rs.%2.00 18 tons Rs./ Rs.==3F/ (tandard Cield Rate * (tandard cost per unit of standard production Problem $ The following information is a!aila&le from the records of a manufacturing company using standard costing system.$0. Particulars 1roduction Dorking days Fi. 9ariance 2 (td. 000 2 Rs..12.penditure !ariance .000 units 20 Rs. 000 Rs.$.# 003F/ Total -sage 9ariance * 1.1. 8oss (tandard 1roduction ....180 per ton * 110 tons " Rs.1.1.8 0030/ @aterial : * #003121+110/* Rs.8.ed o!erhead 9aria&le o!erheads $./ @aterial @i.000 Actuals <0 tons " Rs.000 10 tons <0 tons * Rs. 000 Standard #./ Fi.#.1..00 8ess5 0ctual loss 182 tons * Rs.ed o!erhead cost !ariance .%#.

$0.ed o!erheads * #. 0006 $.ed o!erhead per day * 200 Computation of %ariances .1. 000 * Rs.2. 000 30/ . 000 3F/ 9.#<.#<.12.ed o!erhead rate per day 30ctual days 2 :udgeted days/ * Rs.10 * Rs.ed o!erheads * Rs. 000 * Rs.#8.ed o!erhead efBciency !ariance 9./ ixed overhead calendar variance: (tandard B./ Fi..12./ Variable overhead cost variance: 0ctual !aria&le o!erheads 2 Reco!era&le !aria&le o!erheads * Rs.$0. 000 2 #.2.ed o!erheads for actual production 2 0ctual B. 000 units620 days * 200 units (tandard B./ ixed overhead ex!enditure variance: :udgeted B.1. 000 30/ 9/ ixed overhead e"#ciency variance: (tandard B.ed o!erhead !olume !ariance 9/ Fi. 000 3F/ . 000 2 Rs. 800 units Rs.# (tandard production per day * $. 000 321 2 20/ * Rs../ ixed overhead variance: (tandard B.ed o!erheads 2 0ctual B.. 000 * Rs. 000 units * Rs..2.# * .ed o!erhead rate per day 30ctual time 2 standard time for actual output/ * Rs.0030/ .10 2 Rs.ed o!erhead calendar !ariance Solution: (tandard !aria&le o!erhead rate per unit * :udgeted !aria&le o!erheads6 &udgeted num&er of units * Rs.2. 000 3 21 2 1</ * Rs.9/ ixed overhead volume variance: Reco!era&le o!erheads 2 :udgeted o!erheads Rs.9/ Fi. 000 3F/ Rs.$. 000 2 Rs. 000 . 800 units Rs.2.

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