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Bizhelp
Bizhelp, CPA
Category: Homework
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Experience:  Bachelors Degree and CPA with Accounting work experience
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calculate the budgeted profit for May and ... Smithton, Inc.

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calculate the budgeted profit for May and ...
Smithton, Inc. makes and sells one product, the standard costs of which are as follows:
£
Direct materials (2 kg at £3.00/kg) 6.00
Direct labour (30 minutes at £10.00/hr) 5.00
Fixed overheads 2.50
Total 13.50
Selling price 20.00
Standard profit margin 6.50
The monthly production and sales are planned to be 1,300 units.The actual results for May were as follows:
£
Sales revenue 20,000
Less: Direct materials (6,500) (2,100 kg)
Direct labour (5,250) (510 hr)
Fixed overheads (3,100)
Operating profit 5,150
There were no inventories at the start or end of May.Your supervisor has asked you to calculate the budgeted profit for May and then reconcile it to the actual profit through variances, going into as much detail as possible from the information available.Once you have the figures computed, prepare a detailed report for your supervisor that includes a discussion of the following information:
A listing of the variances that occurred within the month of May.
An analysis of the standards developed and utilised by the organisation.
An analysis of each variance with regards XXXXX XXXXX possible explanations of why it occurred.
An analysis of the business/strategic implications that exist for your organisation in light of the new information.
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Customer: replied 4 years ago.


hi,


i believe your answer is okay, i want to ask. can i submit this directly or will i be charged for plagarism.


must i add more views on the differnce

Hello,

The solutions I provide are for comparison with your own. To ensure originality, it is always best to re-work the solutions in your own words.

Adding more views on the variances would also help. Let me know if you have any questions.
Customer: replied 4 years ago.


hi,


does it take awhile before some questions are answered?


 

Yes, the response time mostly depends on the question and which experts are able to answer it, so it may take longer for a more complicated question. If you have a certain deadline for a question, please include the deadline in your post.