A completed unit of Product A requires 9 kg of material and 10% of material is wasted in the production process.
Material has a standard cost of $5 per kg.
Product A also requires 4 labour hours at a standard cost of $10 per labour hour and variable overheads at a standard cost of $2 per labour hour What is the standard variable production cost per unit of Product A?

A company produces three products D, E and F. The statement below shows the selling price and product costs per unit for each product, based on a traditional absorption costing system.

Each of the products is produced using Process A which has a maximum capacity of 2,500 hours per period.
If a throughput accounting approach is used, the ranking of products, in order of priority, for the profit maximizing product mix will be:

The inventory level of Product Y has reduced by 40 units over a single period. The cost card for Product Y is as follows:

The profit for Product Y using marginal costing is $26,000.
If the company used absorption costing, what would the profit for Product Y be?
Give your answer to the nearest whole $.

A company develops computer software programs to meet each client's specific requirements. The management accountant is considering introducing a standard costing system.
Which THREE of the following are reasons that support the case for the company's introduction of a standard costing system?

FG Enterprises manufactures and sells three products. There are 4,400 kg of Material X available in the next period. Material X is used in the manufacture of all three products. The following data is available for the next period.

What is the optimal production plan for the next period in order to maximise profit?