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Solutions Royal Biscuits
Management Accounting
School of Business and Economics - Opleiding tot Registercontroller (EMFC)
Royal Biscuits IncSolution
Prof Dr Filip Roodhooft
School of Business and Economics - Opleiding tot Registercontroller (EMFC)
Standard costs
Standard cost # Units Total unit cost Standard cost # Units Total unit cost Standard cost # Units Total unit cost
Direct costs
Direct materials 2,7625 3,0625 2,0625 Chocolate 8 0,2 1,6 8 0,2 1,6 8 0,05 0,4 Butter 4 0,15 0,6 4 0,25 1 4 0,25 1 Sugar 1 0,25 0,25 1 0,15 0,15 1 0,2 0,2 Flower 0,35 0,25 0,0875 0,35 0,25 0,0875 0,35 0,25 0,0875 Other 1,5 0,15 0,225 1,5 0,15 0,225 1,5 0,25 0,375Direct labour 25 0,09 2,25 25 0,08 2 25 0,12 3Power and supplies 3 0,16 0,48 2 0,12 0,24 2,5 0,13 0,325Total direct cost/kg 5,49 5,30 5,39
Indirect costs
CP1: Indirect production costs (167250) Maintenance (33250) Depreciation (134000)Allocation base: 11520 machine hours 14,52 0,16 2,32 14,52 0,12 1,74 14,52 0,13 1,89
CP2: Other indirect costs (95060) Salaries (48760) Rent (30000) Administration (16300)Allocation base: 7000 direct labor hours 13,58 0,09 1,22 13,58 0,08 1,09 13,58 0,12 1,63Total indirect cost/kg 3,55 2,83 3,52
Total cost/kg 9,04 8,13 8,90
Supreme crisp Tropical chocolate Sublime roll
School of Business and Economics - Opleiding tot Registercontroller (EMFC)
Actual costsStandard cost # Units Total unit cost Standard cost # Units Total unit cost Standard cost # Units Total unit cost
Direct costs
Direct materials 2,66 3,1925 2,095 Chocolate 8,65 0,15 1,2975 8,65 0,2 1,73 8,65 0,05 0,4325 Butter 4 0,2 0,8 4 0,25 1 4 0,25 1 Sugar 1 0,25 0,25 1 0,15 0,15 1 0,2 0,2 Flower 0,35 0,25 0,0875 0,35 0,25 0,0875 0,35 0,25 0,0875 Other 1,5 0,15 0,225 1,5 0,15 0,225 1,5 0,25 0,375Direct labour 26,5 0,09 2,385 26,5 0,08 2,12 26,5 0,12 3,18Power and supplies 3 0,16 0,48 2 0,12 0,24 2,5 0,13 0,325Total direct cost/kg 5,53 5,55 5,60
Indirect costs
CP1: Indirect production costs (167.250) Maintenance (33.250) Depreciation (134.000)Allocation base (*): 8270,4 machine hours 20,22 0,16 3,24 20,22 0,12 2,43 20,22 0,13 2,63
CP2: Other indirect costs (95.060) Salaries (48.760) Rent (30.000) Administration (16.300)Allocation base (**): 5.834,6 direct labor hours 16,29246 0,090 1,47 16,29 0,08 1,30 16,29 0,12 1,96Total indirect cost/kg 4,70 3,73 4,58
Total cost/kg 10,23 9,28 10,18
(*) Allocation base 1 22500 0,16 360016300 0,12 195620880 0,13 2714,4
8270,40
(**) Allocation base 2 22500 0,09 202516300 0,08 130420880 0,12 2505,6
5834,60
Supreme crisp Tropical chocolate Sublime roll
School of Business and Economics - Opleiding tot Registercontroller (EMFC)
General variances
Direct materials variance 491,35Direct materials price variance Actual price Standard price Actual amount Variance
Chocolate 8,65 8 7.679,00 4991,35 4991,35
Direct materials usage variance Actual amount Standard amount for actual output Standard price Variance
Chocolate 7679 8804 8 -9.000,00 Butter 13795 12670 4 4.500,00 Sugar 12246 12246 1 0,00 Flower 14920 14920 0,35 0,00 Others 11040 11040 1,5 0,00
Direct labor variance 8.751,90Wage rate variance Actual wage Standard wage Actual amount Variance
26,5 25 5.834,60 8751,9 8751,9
Manufacturing overhead variance 63.004,57
CP1 Actual unit cost Standard unit cost Actual amount MH Variance20,22 14,52 8270,40 47178,44 47178,44
CP2 Actual unit cost Standard unit cost Actual amount LH Variance16,29 13,580 5834,60 15826,13 15826,13
-4500,00
School of Business and Economics - Opleiding tot Registercontroller (EMFC)
Detailed variances
Supreme crisp variance (direct costs) 22500 731,25
Direct materials price variance 2193,75 Chocolate 8,65 8,00 3375 2193,75
Direct materials usage variance -4500
Chocolate 3375 4500 8 -9000 Butter 4500 3375 4 4500
Wage rate variance 26,5 25 2025 3.037,50 3.037,50
Tropical chocolate variance (direct costs) 16300,00 4.075,00
Direct materials price variance 2.119,00 Chocolate 8,65 8 3260 2119
Wage rate variance 26,5 25 1304 1956 1956
Sublime Roll variance (direct costs) 20880 4.437,00
Direct materials price variance 678,6 Chocolate 8,65 8 1044 678,6
Wage rate variance 26,5 25 2505,6 3758,4 3758,4
School of Business and Economics - Opleiding tot Registercontroller (EMFC)
Standard costing P&L Sales 778.360,00
Supreme crisp 22500*13,2 297.000,00Tropical chocolate 16300*14,8 241.240,00Sublime roll 20880*11,5 240.120,00
- Cost of Goods Sold 521.808,43
Supreme crisp 22500*9,04 203.346,38Tropical chocolate 16300*8,13 132.536,73Sublime roll 20880*8,9 185.925,33
- Variances 72.247,82
Direct materials price variance 4.991,35Direct materials usage variance -4.500,00Wage rate variance 8.751,90Manufacturing overhead variance 63.004,57
= Gross profit 184.303,75
- Distribution costs 18.450,00 - Selling costs 7.800,00
= Result from operations (EBIT) 158.053,75
- Interest expenses 77.000,00
= Result from ordinary activities before taxes 81.053,75
- Income taxes 31.610,96
= Result from ordinary activities after taxes 49.442,79
School of Business and Economics - Opleiding tot Registercontroller (EMFC)
Actual costing P&L
Sales 778.360,00
Supreme crisp 22500*13,2 297.000,00Tropical chocolate 16300*14,8 241.240,00Sublime roll 20880*11,5 240.120,00
- Cost of Goods Sold 594.056,25
Supreme crisp 22500*9,66 230.106,54Tropical chocolate 16300*9,36 151.306,76Sublime roll 20880*10,3 212.642,95
= Gross profit 184.303,75
- Distribution costs 18.450,00 - Selling costs 7.800,00
= Result from operations (EBIT) 158.053,75
- Interest expenses 77.000,00
= Result from ordinary activities before taxes 81.053,75
- Income taxes 31.610,96
= Result from ordinary activities after taxes 49.442,79