Assignment of Managerial Accounting
Spring 2014 Semester
Managerial accounting (MGT404)
ASSIGNMENT # 1 MARKS: 25
DUE DATE: 26THMAY, 2014
Topic to be tested: Standard Costing
Learning objectives: Students will be able to understand the effectiveness of standard costing.
Learning Outcome: after attempting the assignment; students would be able to analyze different variances for a manufacturing concern.
ABC Company is an emerging manufacturing firm. Chief financial officer (CFO) of the company has examined that traditional costing standards are no more suitable for performance measures in an emerging manufacturing environment owing to rapidly changing production technology.
Considering the facts that CFO has decided to adapt standard costing technique which helps managerial accountant to control costs by setting standard costs for direct material, direct labor and manufacturing overhead through either historical costs analysis or task analysis. This control purpose of the standard costing system is accomplished by computing a variance analysis. Standard costing system has been adopted by ABC Corporation and standard cost for its product bearing code “Product-111” shown below:
+ http://bit.ly/vucodes (Link for Assignments, GDBs & Online Quizzes Solution)
+ http://bit.ly/papersvu (Link for Past Papers, Solved MCQs, Short Notes & More)+ Click Here to Search (Looking For something at vustudents.ning.com?) + Click Here To Join (Our facebook study Group)
Please discuss, kal last date hai,
kuch samaj nhi aa raha.
sukar koi tu bola is subject ka student.
i think so varice of material ka ya 2 formuly hy
Material Price Variance:
Actual Quantity x (Standard price – Actual price)
208,000 Kgs x (Rs. 20 –Rs. 21) = Rs. 208,000 (A)
Material usage Variance
Actual Material Usage – St. Usage) *St. price
(208,000 Kgs – 200,000 Kgs) x Rs. 20 –Rs. 160,000 (A)
from Chapter 7 ka Question 2 sa mila hai
Thank you asma, but be careful, handout mn bohat mistakes hai.
acha tu than kedr sa kary
i mean by calculations: calculate by your own.
For example Lecture # 6 at page# 96, closing stock calculated as below;Although answer is correct. i.e. 42,500
Less: Closing stock [(1,060,000/ 20,000)*1,000] 42,500
If you calculate it should be as below;
Less: Closing stock [(850,000/ 20,000)*1,000] 42,500
MGT 404 managerial accounting k past paper mil sakty ? agr hyn to mujy mail kar dyn , thanks
yup u r right imran
Answers kia aye hai, tally kr laity
app plz mujy bata dy app kis time online hoty hy than main b usi waqt online ho kar mila kar ya assig kar ly gy plzzzzzzzz
solution of assig
Aray yar bas itnay log he MB Economics study ker rahay hain. Admin team you should post and discuss solutions of assignments .