MGT404 Assignment Solution 2023 ( Download File)

 DUE DATE: 29THMAY 2023 

MARKS: 10

 Learning Objective 

The students in this assignment are intended to learn the concept of standard costing and its application in manufacturing & selling concerns. Learning Outcomes After going through this activity, the students would be able to learn about Selling price planning variance and selling price operating variance of an organization. Students would also be able to analyze the impact of positive and negative variances on the financial health of the organization.

 Assignment Question: 

Dynamic Manufacturer Limited produces and sells surgical instruments, and applies a standard costing

sophia_jasmine0

Fiverr

Seller

My Name is Sophia... I am an Android developer with 3years of experience in full software development life cycles including requirements gathering designs,coding,testing,deployment,debugging and General management and Full maintenance. Website developement, wordpress and Full app or Website development

system in its operations. Initially, the budget for production and sale of one particular surgical drill for May was 800 units at a price of Rs 300 each. Upon analyzing the performance of May in the context of prevailing market conditions, the sales director concluded that Dynamic Limited should have sold 800 units of the surgical drill at a higher price of Rs. 350 each. However, the actual sales figures for the month of May were 800 units at Rs. 320 per unit. You are required to compute the following variances related to this surgical drill for the month of May. 

a) Selling price planning variance (3 Marks) 

b) Selling price operating variance (3 Marks) 

c) Total Variance (2 Marks) 

d) What does the positive selling price planning variance indicate? How does the negative selling price operating variance affect the company's profitability? (2 Marks) 

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