Homework Answers
27.
| CP Inc. | |||
| Schedule of budgeted cash disbursement | |||
| April, May and June | |||
| April | May | June | |
| Previous month Cost | $192000 | $180000 | $180000 |
| Current month cost | $120000 | $120000 | $144000 |
| Total cash disbursement | $312000 | $300000 | $324000 |
Workings :
| April | May | June | |
| Previous month cost | $320000×60% = $192000 | $300000×60% = $180000 | $300000×60% = $180000 |
| Current month cost | $300000×40% = $120000 | $300000×40% = $120000 | $360000×40% = $144000 |
28)
Material variances :
Material quantity variance = (SQ-AQ)×SP = (2400 - 1000)×$2 = 1400×$2 = $2800 (F)
Material price variance = (SP-AP) ×AQ = ($2-$1.5)×1000 = $0.5 × 1000 = $500 (F)
Material variance = (SQ×SP) - (AQ×AP) = (2400×$2) - (1000×$1.5) = $4800 - $1500 = $3300 (F)
Where,
SQ - standard quantity = 4 feet × 600 units = 2400 feet
AQ - Actual quantity = 1000 feet
SP - Standard price = $2 per foot
AP - Actual price = $1500/1000 feet = $1.5 per foot
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