Alternative Variance Report Assignment

the following budgeted figures have been taken from the cost records of MZ ltd:

production units 10 000 12 500
capacity level 80% 100%
sales R1 144 000 R1 430 000
direct material @R5 per KG R200 000 R250 000
direct labour @R20 per hour R240 000 R300 000
factory overheads R300 000 R330 000
selling and administrative expenses R180 000 R190 000

normal capacity is equal to 12 500 units. As a result of poor economic conditions the budget for July 2019 has been set at 80%of normal capacity

the company uses the direct costing method for internal reporting purposes the following variance report for July 2019 has been presented to management

fixed budget actual budget variance
production units 10 000 9000
material usage (kg) 10 000 9000
labour hours 12 000 11 500
sales R1 144 000 R1 003 200 R140 800 (a)
material R200 000 R188 000 R12 000 (f)
direct labour R240 000 R224 000 R16 000 (f)
factory overhead R300 000 R296 000 R4 000 (f)
selling and administrative expenses R180 000 R176 000 R4 000 (f)
net profit R224 000 R119 000 R104 800 (a)

(A) prepare an alternative variance report for the department that would be more meaningful to management

(B) critically discuss the format and content of the variance report for July 2019 a represented to the department. Get Finance homework help today

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