Chapter five measuring yield, mix and quantity effects learning Objectives


Exhibit 1 Annual profit statement



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Applied Econometrics using MATLAB, Management and Cost Accounting, case study 301.docx
Exhibit 1 Annual profit statement
_______________________________________2000($) _______ 2001($)__________________
28

Budgeted sales
8000 Selling price variance Sales volume variance
(1600)U
(2735)U
Actual sales
6400 Standard cost of sales
4800 Standard operating profit
1600 Cost variances Direct material price
(100)U
(80)U
Direct material usage
(220)U
(280)U
Labour rate
(150)U
(130)U
Labour efficiency
(200)U
(300)U
Variable overhead spending
(180)U
(300)U
Variable overhead efficiency
(250)U
(275)U
Fixed overhead spending
(120)U
(150)U
Fixed overhead volume- Operating profit 540
Exhibit 2 Unit standard costs and selling price
2000 Unit Standard cost
0.50 Direct material
0.75 Direct labour
0.50 Variable overheads
1.25 Fixed overheads
3.00 Actual unit selling prices
4.00 5.47
Exhibit 3 Records of production and sales

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