Homework Answers
Workings
Given data - Budgeted output 9,800units
- Direct material for one unit - 40 sq mt; cost = 5.3 USD per sq mt
Direct material cost per unit = Material consumed * rate per unit
= 40*5.3 = 212 USD
- Direct wages = Hours per unit * rate per hour
Bonding department = 48*12.5 = 600 USD
Finishing department = 30*7.6 = 228 USD
Total direct wages = 600 + 228 = 828 USD
- Variable overhead
Rate per hour = Total variable overhead / Total hours
Bonding department = 375,000 USD / 500,000 hours = 0.75 USD / hour
Finishing department = 150,000 USD / 300,000 hours = 0.50 USD / hour
Variable overhead per unit = Rate per hour * hour per unit
Bonding department = 0.75 USD / hour * 48 hours / unit = 36 USD / unit
Finishing department = 0.50 USD / hour * 30 hours / unit = 15 USD / unit
Total variable overhead per unit = 36 + 15 = 51 USD / unit
- Fixed costs allocated per unit = Total fixed costs / budgeted output
Production cost = 392,000 USD / 9,800 units = 40 USD / unit
Selling and distribution = 196,000 USD / 9,800 units = 20 USD / unit
Administration = 980,000 / 9,800 units = 100 USD / unit
Cost sheet
| Particulars | USD per unit |
| Direct material | 212 |
| Direct wages | 828 |
| Prime cost | 1040 |
| Variable overhead | 51 |
| Variable Production cost | 1091 |
| Fixed production cost | 40 |
| Total production cost | 1,131 |
| Administration | 100 |
| Total Cost of production | 1,231 |
| Selling and distribution | 20 |
| Total cost | 1,251 |
| Profit margin (15%) | 221 |
| Selling price | 1,472 |
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