Answered step-by-stepb) The following outcomes were noted for Juniper Ltd using a...
b) The following outcomes were noted for Juniper Ltd using a standard costing and variance
analysis system.
Adverse Favourable
£ £
Variances__________________________________________________________________
Material Price 3 500
Material Usage 8 300
Wage Rate 44 000
Labour Efficiency 52 000
Material price variance - adverse
Material usage variance - favourable
Wage rate variance -favourable
Labour efficiency variance- adverse
Juniper operates a standard costing system. Assess the performance of the Production Manager using the figures above and identify and critically evaluate the possible causes of the variances noted above for Juniper Ltd. You can make assumptions on the businesses operations in explaining possible causes.
25 marks, Total 50 marks
Answer & Explanation
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