Exp has compiled the following standard cost card for its main product.Productio-新东方在线职业题库

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Exp has compiled the following standard cost card for its main product.

Production costs $

Fixed 33.00

Variable 45.10

Selling costs Fixed 64.00

Variable 7.20

Profit 14.70

Selling price 164.00

What would the closing inventory be valued at under an absorption costing system (to 2 decimal places)?

Chapter9AbsorptionandmarginalCosting

Inventory is valued at full production cost i.e. both fixed and variable production costs. $(33.00+ 45.10) = $78.10

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What does an adverse variable overhead efficiency variance indicate and what might be the cause?

Explain briefly the possible causes of

(i) A favourable material usage variance

(ii) A favourable labour rate variance

(iii) An adverse sales volume contribution variance.

What is the relationship between the labour efficiency variance and the variable overhead efficiency variance? Why might the monetary value be different?

Explain the meaning and relevance of interdependence of variances when reporting to managers.

A balanced scorecard measures performance 什om four perspectives: customer satisfaction, growth, financial success and process efficiency. Briefly explain these processes.

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