The Supervisor of the Cost Department Has Just Conferred with You

question 221

Essay

The supervisor of the cost department has just conferred with you concerning the variance analysis of direct labour for the month just ended.As she talked,you wrote feverishly,but you weren't able to record all the information she gave you before she dashed off muttering something about "another brush fire to put out." Your efforts are shown below:
Required:
a)To redeem yourself,complete the form above,adding numbers and labels.(The usual notations,AH,SH,AR,SR,etc. ,may be used where appropriate. )
b)If you know that 18 minutes of labour is standard per unit of production,how many units were produced?

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Definitions:

Bank Reconciliation

Bank reconciliation is the process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure they are in agreement.

Outstanding Checks

Refers to checks that have been written and recorded in the accounting records but have not yet cleared the bank.

NSF Check

A check that a bank returns without honoring because the account on which it was drawn does not have sufficient funds.

Outstanding Checks

Outstanding checks refer to checks that have been written and recorded in the paying entity's ledger but not yet cashed or cleared by the recipient.