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    tammietoes Posts: 19, Reputation: 2
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    Feb 19, 2011, 05:48 AM
    Management Accounts Question: Variance Question?
    I was wondering if someone could help me with a problem I'm having. The Q is as follows;

    McCauleys Ltd uses a standard costing system and has produced the following production information for the month of June 2010.
    Standard Actual
    Sales (units) 10,000 10,000
    Sales price per unit £30 £32
    Materials Used (kg) 5,000 5,250
    Materials Price (per kg) £7.50 £7.80
    Labour Hours 12,500 13,650
    Labour Rate (per hour) £10 £9.70
    Fixed Production overhead £66,000 £69,400

    I need to prepare a statement showing the budgeted profit and the actual profit for the month of June

    Also I need to calculate,
    * Sales Price margin
    * Materials Usage
    * Materials Price
    * Labour Efficiency
    * Labour rate
    * Fixed overhead production

    Thanks for your help! Just can'r get my head around it at all & trying to piece together a business plan when I figure how to actually work it out!

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