- 9 Marks
MA – Nov 2015 – L2 – Q1d – Standard costing and variance analysis
Calculate sales, material, wage, overhead variances, and reconcile budgeted profit to actual profit.
Question
You have been asked as a cost accountant to reconcile the Budgeted profit to the actual profit using the variance report generated by the management accountant.
i. Calculate the sales variances (2 marks)
ii. The total material variance (1 mark)
iii. The total wage variances (1 mark)
iv. Total manufacturing overhead variances (1 mark)
v. Reconciliation of Budget profit to the actual profit (4 marks)
(Total = 9 marks)
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