Jawapan kepada Ujian 2

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Soalan 1

1. a. The unit product cost under absorption costing would be:

	Direct materials.................................................................................	$ 6
	Direct labor.............................................................................	9
	Variable manufacturing overhead...........................................	3
	Total variable costs.................................................................	18
	Fixed manufacturing overhead ($300,000 ÷ 25,000 units)....	12
	Unit product cost...........................................	$30

b. The absorption costing income statement:

	Sales (20,000 units × $50 per unit)..............................		$1,000,000
	Less cost of goods sold:
	Beginning inventory..............................................	$ 0
	Add cost of goods manufactured (25,000 units × $30 per unit)...............................	750,000
	Goods available for sale.........................................	750,000
	Less ending inventory (5,000 units × $30 per unit).................................	150,000	600,000
	Gross margin........................................................		400,000
	Less selling and administrative expenses [(20,000 units × $4 per unit) + $190,000]....		270,000
	Net operating income.........................................		$ 130,000

2. a. The unit product cost under variable costing would be:

	Direct materials.............................................	$ 6
	Direct labor.........................................	9
	Variable manufacturing overhead...	3
	Unit product cost...............................	$18

b. The variable costing income statement:

	Sales (20,000 units × $50 per unit).......................			$1,000,000
	Less variable expenses:
	Variable cost of goods sold:
	Beginning inventory......................................	$ 0
	Add variable manufacturing costs (25,000 units × $18 per unit).....................................	450,000
	Goods available for sale................................	450,000
	Less ending inventory (5,000 units × $18 per unit).......................	90,000
	Variable cost of goods sold..............................	360,000	*
	Variable selling expense (20,000 units × $4 per unit)..........................	80,000		440,000
	Contribution margin...............................................			560,000
	Less fixed expenses:
	Fixed manufacturing overhead......................	300,000
	Fixed selling and administrative expense....	190,000		490,000
	Net operating income.............................................			$  70,000

*The variable cost of goods sold could be computed more simply as: 20,000 units × $18 per unit = $360,000.

Soalan no 2

	March		April		Two months
	RM		RM		RM
Cash balance, beginning	10,000		5,000		10,000
Add: Collections from customers	150,000		185,000		335,000
Total cash available	160,000		190,000		345,000
Less Disbursements:
Inventory purchases	90,000		82,000		172,000
Selling & admin expenses	70,000		65,000		135,000
Equipment purchase	15,000		6,000		21,000
Dividends	5,000		-		5,000
Total disbursement	180,000		153,000		333,000
Excess (deficiency) of cash available over cash disbursement	(20,000)		37,000		12,000
Financing:
Borrowing (at beginning)	25,000		-		25,000
Repayments (at ending)	-		(25,000)		(25,000)
Interest (12% per year)	-		(500)	*	(500)
Total financing	25,000		(25,500)		(500)
Cash balance, ending	5,000		11,500		11,500
* RM25,000 x 12% x 2/12 = RM500

Soalan no 3

1.	Number of items shipped.............................................................	120,000
	Standard direct labor-hours per item..........	× 0.02
	Total direct labor-hours allowed...................	2,400
	Standard variable overhead cost per hour..	× $3.25
	Total standard variable overhead cost.........	$ 7,800
	Actual variable overhead cost incurred..................	$7,360
	Total standard variable overhead cost (above)....	7,800
	Total variable overhead variance...........................	$ 440	Favorable

2.

Actual Hours of Input, at the Actual Rate

Actual Hours of Input, at the Standard Rate

Standard Hours Allowed for Output, at the Standard Rate

(AH × AR)

(AH × SR)

(SH × SR)

2,300 hours × $3.20 per hour*

2,300 hours × $3.25 per hour

2,400 hours × $3.25 per hour

= $7,360

= $7,475

= $7,800

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Variable Overhead Spending Variance, $115 F

Variable Overhead Efficiency Variance, $325 F

Total Variance, $440 F

*$7,360 ÷ 2,300 hours =$3.20 per hour