Homework Answers
| Particulars | 2018 | 2019 | Change 2018 to 2019 | Remarks |
| No of units produced & Sold | 43000 | 52600 | 9600 | Increase 9600 units produced & Sold in 2019 compare to 2018 |
| Direct Manufacture labor-hours | 22000 | 26000 | 4000 | Increase 4000 labour hours in 2019 compare to 2018 |
| Direct Materials used(Square meters) | 130000 | 152000 | 22000 | Increase 22000 square meters material used in 2019 compare to 2018 |
| Direct Manufacture labor cost per hour | $ 16 | $ 17 | $ 1 | Increase $ 1 Manufaturing labour cost per hour in 2019 Compare to 2018 |
| Direct materials cost per meter | $ 10 | $ 11 | $ 1 | Increase $ 1 Manufaturing cost per hour in 2019 Compare to 2018 |
| No of Square meters per unit(No of square meters of direct material used/No of units produced & Sold) | 130000/43000=3.02 sq meter | 152000/52600=2.89 sq meter | $ -0.13 | decrease $ 0.13 square meters per unit in 2019 Compare to 2018 |
| No of Labour hours per Unit=Direct Manufacture labour-hours/No of units produced & Sold | 22000/43000=0.51 hours | 26000/52600=0.49 hours | $ -0.02 | decrease $ 0.02 hours used per unit in 2019 Compare to 2018 |
| Material Cost per Unit=No of square meters per unit *$10 | 3.02*$10=$30.2 | 2.89*$11=$31.79 | $ 1.59 | Increase $ 1.59material cost per unit in 2019 Compare to 2018 |
| Labour cost per unit=No of labour hours per unit*Labour cost per unit | 0.51 hours*$16=$8.16 | 0.49 hours *17=$8.33 | $ 0.17 | Increase $ 0.17 labour cost per unit in 2019 Compare to 2018 |
| Total Cost per Unit =Material cost per unit+Labour cost per unit | 30.2+8.16=$38.36 | 31.79+8.33=$40.12 | $ 1.76 | Increase $ 1.76 Total cost per unit in 2019 Compare to 2018 |
| Direct Material cost (No of Square meters used*Direct Material cost per meter) | 130000*$10=$1300000 | 152000*$11=$1672000 | $ 3,72,000 | $372000 increased material cost in 2019 compare to 2018 |
| Direct Labour Cost (Direct Manufacture labor-hours*Direct Manufacture labor cost per hour) | 22000*$16=$352000 | 26000*$17=$442000 | $ 90,000 | $90000 increased labour cost in 2019 compare to 2018 |
| Total Cost=Direct Material cost+Direct Labour cost | $16,52,000 | $21,14,000 | $ 4,62,000 | $462000 increased total cost in 2019 compare to 2018 |
| Compare to 2018 in 2019 all costs are increased but no of square meters and labour hours are decreased,Cost per square meter and cost per labour hour increased |
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Trial Balance
Details/Accounts
Dr $
Cr $
Purchases of direct raw materials
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Stock of direct raw materials 1 January 2018
5,500,000
Wages paid to manufacture goods
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Insurance
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Electricity
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Cash at bank
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Trial Balance
Details/Accounts
Dr $
Cr $
Purchases of direct raw materials
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Wages paid to manufacture goods
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Insurance
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Electricity
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Accounts payable
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Discounts
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Return of direct raw materials
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