REQUIRED USED THE INFORMATION BELOW TO PROVIDE BELOW TO PREPARETHE PERFORMANCE REPORT FOR LONMIN LIMITED INFORMATION LONMIN LTD MANUFACTURES A SINGLE PRODUCT.IT ORGINALLY PLANNED TO PRODUCE AND SELL 18 000 UNITS DURING THE YEAR BUT THE ACTUAL ACTIVITY LEVEL WAS 22 000 UNITS.THE BUDGETED AND ACTUAL INCOME AND COST FOR THE YEAR ARE AS FOLLWS ORGINAL BUDE ACTUAL RESULTS VOLUME 18 000 UNITS 22 000UNITS R R SALES 2 500 000 3 300 000 COST OFSALES (1 670 000) (2132 000) DIRECT MATERIALS 720 000 924 000 DIERECT LABOUR 450 000 594 000 VARIABLES OVERHEADS 180 000 264 000 FIXED OVERHEADS 320 000 350 000 GROSS PROFIT 850 000 1 168 000
REQUIRED USED THE INFORMATION BELOW TO PROVIDE BELOW TO PREPARETHE PERFORMANCE REPORT FOR LONMIN LIMITED INFORMATION LONMIN LTD MANUFACTURES A SINGLE PRODUCT.IT ORGINALLY PLANNED TO PRODUCE AND SELL 18 000 UNITS DURING THE YEAR BUT THE ACTUAL ACTIVITY LEVEL WAS 22 000 UNITS.THE BUDGETED AND ACTUAL INCOME AND COST FOR THE YEAR ARE AS FOLLWS ORGINAL BUDE ACTUAL RESULTS VOLUME 18 000 UNITS 22 000UNITS R R SALES 2 500 000 3 300 000 COST OFSALES (1 670 000) (2132 000) DIRECT MATERIALS 720 000 924 000 DIERECT LABOUR 450 000 594 000 VARIABLES OVERHEADS 180 000 264 000 FIXED OVERHEADS 320 000 350 000 GROSS PROFIT 850 000 1 168 000
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter3: Cost Behavior And Cost Forecasting
Section: Chapter Questions
Problem 54E: Income Statements under Absorption and Variable Costing In the coming year, Kalling Company expects...
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Question
REQUIRED USED THE INFORMATION BELOW TO PROVIDE BELOW TO PREPARETHE PERFORMANCE REPORT FOR LONMIN LIMITED
INFORMATION
LONMIN LTD MANUFACTURES A SINGLE PRODUCT.IT ORGINALLY PLANNED TO PRODUCE AND SELL 18 000 UNITS DURING THE YEAR BUT THE ACTUAL ACTIVITY LEVEL WAS 22 000 UNITS.THE BUDGETED AND ACTUAL INCOME AND COST FOR THE YEAR ARE AS FOLLWS
| ORGINAL BUDE | ACTUAL RESULTS | |
| VOLUME | 18 000 UNITS | 22 000UNITS |
| R | R | |
| SALES | 2 500 000 | 3 300 000 |
| COST OFSALES | (1 670 000) | (2132 000) |
| DIRECT MATERIALS | 720 000 | 924 000 |
| DIERECT LABOUR | 450 000 | 594 000 |
| VARIABLES |
180 000 | 264 000 |
| FIXED OVERHEADS | 320 000 | 350 000 |
| GROSS PROFIT | 850 000 | 1 168 000 |
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