Need about 1200 words. My requirements. This assignment is consist of FIVE(5) parts each parts has a number questions. Please cover all question requirements Plagiarism level allowed 2% only otherwise...

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Need about 1200 words.


My requirements.


This assignment is consist of FIVE(5) parts each parts has a number questions. Please cover all question requirements






  1. Plagiarism level allowed 2% only otherwise it will not acceptable.(I will ask for refund and rejected).

  2. Please don’t use more than one website on reference.

  3. Need at least
    3-4 Reference.


  4. Please write this assignment in depth
    (general writing not acceptable)

  5. Please use
    Harvard style.


  6. Referencing (in text citation)
    should be evident in the discussions.


  7. Free of plagiarism
    because my university using a very strike program in check called (TURNITIN) and its accurate.

  8. NOTE THAT THIS ASSIGNMENT IS FOR MASTER PROGRAMME PLEASE DOING YOUR
    BEST EFFORT TO GET A OR B GRADE.




For this assignment you will need to read the information provided below and complete the questions that follow. 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: 1- A listing of the variances that occurred within the month of May.? 2- An analysis of the standards developed and utilised by the organisation. ? 3- An analysis of each variance with regards to the possible explanations of why it occurred. ? 4- An analysis of the business/strategic implications that exist for your organisation in light of the new information. ? Need about 1200 words. My requirements. This assignment is consist of FIVE(5) parts each parts has a number questions. Please cover all question requirements 1. Plagiarism level allowed 2% only otherwise it will not acceptable.(I will ask for refund and rejected). 1. Please don’t use more than one website on reference. 1. Need at least 3-4 Reference. 1. Please write this assignment in depth (general writing not acceptable) 1. Please use Harvard style. 1. Referencing (in text citation) should be evident in the discussions. 1. Free of plagiarism because my university using a very strike program in check called (TURNITIN) and its accurate. 1. NOTE THAT THIS ASSIGNMENT IS FOR MASTER PROGRAMME PLEASE DOING YOUR BEST EFFORT TO GET A OR B GRADE. For this assignment you will need to read the information provided below and complete the questions that follow. 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 1 - month of May. ? An analysis of the standards developed and utilised 2 - by the organisation. ? An analysis of each variance with regards to the 3 - possible explanations of why it occurred. ? An analysis of the busi ness/strategic implications that 4 - exist for your organisation in light of the new information. ? For this assignment you will need to read the information provided below and complete the questions that follow. 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 1- month of May.? An analysis of the standards developed and utilised 2- by the organisation. ? An analysis of each variance with regards to the 3- possible explanations of why it occurred. ? An analysis of the business/strategic implications that 4- exist for your organisation in light of the new information. ? Need about 1200 words. My requirements. This assignment is consist of FIVE(5) parts each parts has a number questions. Please cover all question requirements 1. Plagiarism level allowed 2% only otherwise it will not acceptable.(I will ask for refund and rejected). 1. Please don’t use more than one website on reference. 1. Need at least 3-4 Reference. 1. Please write this assignment in depth (general writing not acceptable) 1. Please use Harvard style. 1. Referencing (in text citation) should be evident in the discussions. 1. Free of plagiarism because my university using a very strike program in check called (TURNITIN) and its accurate. 1. NOTE THAT THIS ASSIGNMENT IS FOR MASTER PROGRAMME PLEASE DOING YOUR BEST EFFORT TO GET A OR B GRADE. Need about 1200 words. My requirements. This assignment is consist of FIVE ( 5 ) parts each parts has a number questions. Please cover all question requirements 1 - Plagiarism level allowed 2% only otherwise it will not acceptable.(I will ask for refund and rejected). 2 - Please don’t use more than one website on reference. 3 - Need at least 3 - 4 Reference . 4 - Please write this assignment in depth (general writing not acceptable) 5 - Please use Harvard style . 6 - Referencing (in text citation) should be evident in the discussions. 7 - Free of plagiarism because my university using a very strike program in ch eck called (TURNITIN) and its accurate. 8 - NOTE THAT THIS ASSIGNMENT IS FOR MASTER PROGRAMME PLEASE DOING YOUR BEST EFFORT TO GET A OR B GRADE. Need about 1200 words. My requirements. This assignment is consist of FIVE(5) parts each parts has a number questions. Please cover all question requirements 1- Plagiarism level allowed 2% only otherwise it will not acceptable.(I will ask for refund and rejected). 2- Please don’t use more than one website on reference. 3- Need at least 3-4 Reference. 4- Please write this assignment in depth (general writing not acceptable) 5- Please use Harvard style. 6- Referencing (in text citation) should be evident in the discussions. 7- Free of plagiarism because my university using a very strike program in check called (TURNITIN) and its accurate. 8- NOTE THAT THIS ASSIGNMENT IS FOR MASTER PROGRAMME PLEASE DOING YOUR BEST EFFORT TO GET A OR B GRADE.
Answered Same DayDec 23, 2021

Answer To: Need about 1200 words. My requirements. This assignment is consist of FIVE(5) parts each parts has a...

Robert answered on Dec 23 2021
123 Votes
SMITHTON INC.
Month: MAY
Statement Showing Budgeted profit:
Particulars Calculation Amount (£)
No. of units [1,300]
Sales (A) 20 x 1300 26,000
Direct Material 6 x 1300 7,800
Direct Labour 5 x 1300 6,50
0
Fixed Overhead 2.50 x 1300 3,250
Total Cost (B) 17,550
Budgeted Profit (A-B) 8,450
Statement Showing Actual profit:
Particulars Amount (£)
No. of units [1,000]
Sales (A) 20,000
Direct Material 6,500
Direct Labour 5,250
Fixed Overhead 3,100
Total Cost (B) 14,850
Actual Profit (A-B) 5,150
Actual Quantity sold = Sales / Selling Price
(Assuming Selling Price to be the same)
= 20,000 / 20
= 1,000 units
Since their were no opening or closing inventories, hence the actual quantity produced and
consumed = 1,000 units.
Reconciliation Statement for the month of May:
PARTICULARS AMOUNT
(£)
Budgeted Profit 8,450
Sales Margin Variance
Sales Margin Volume Variance 1950 (A)
Sales Margin Price Variance Nil 1950 (A)
Profit Before Adjustment of Cost Variances 6500
Material Variances
Material Price Variance 200 (A)
Material Usage Variance 300 (A) 500 (A)
Labour Variances
Labour Rate Variance 150 (A)
Labour Efficiency Variance 100 (A) 250 (A)
Fixed Overhead Variance
FOH Expenditure Variance 150 (F)
FOH Volume Variance 750 (A) 600 (A)
Actual Profit 5,150
Abbreviations Used for Calculations:
1. AQ = Actual Quantity
2. AP = Actual Price per unit
3. BQ = Budgeted Quantity
4. SP = Standard Price
5. SQap = Standard Quantity for Actual Production
6. SR = Standard Rate per Labour Hour
7. AH = Actual Labour Hours
8. AR = Actual Rate Per Labour Hour
9. SHap = Standard Labour Hours required for actual production.
1. LIST OF VARIOUS VARIANCES:

a) Sales Variances:

i) Sales Value Variance = (AQ x AP) – (BQ x SP)
= 20000 – 26000
= 6000 (A)
This variance exists when there is difference in the Budgeted Sales and Actual
Sales.
If Actual Sales > Budgeted Sales = Favourable
If Actual Sales < Budgeted Sales = Adverse
It can also be calculated by adding Sales Price Variance and Sales Volume
Variance
ii) Sales Price Variance = AQ (AP – SP)
= 1000 (20 – 20)
= Nil
This variance exists when there is difference in...
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