March 120,000 120,000 70,000 100,000 Аprl 120,000 140,000 90,000 120,000 May 200,000 140,000 100,000 150,000 Feb Project A Project B Project C Project D Jan 60,000 100,000 80,000 120,000 100,000 80,000 80,000 120,000 Based on the data obtained from each project, you have found out the value of work done on the 31st of March, which is shown in Table 2 below. Table 2: The Actual Value of Work Done and Direct Cost Incurred as of the 31st of March Project Direct Cost Incurred Actual Value of Work Done 300,000 250,000 250,000 280,000 220,000 180,000 200,000 240,000 C Each project is suPposed to contribute 10% profit and 8% overhead to the company. You are requested to present to the company the turnorer as of the 31st of march. Prepare your answenr by answering the following questions. a) Calculate the planned ralue of work done the +otal Rlanned oxerrhe ad and the

Accounting Information Systems
11th Edition
ISBN:9781337552127
Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Chapter15: Integrated Production Processes (ipps)
Section: Chapter Questions
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Table 1: The Planned Value of Work Done Schedule
March
120,000
120,000
70,000
100,000
Jan
Feb
Project A
Project B
Project C
Project D
60,000
100,000
80,000
120,000
100,000
80,000
80,000
120,000
Аpril
120,000
140,000
90,000
120,000
May
200,000
140,000
100,000
150,000
Based on the data obtained from each project, you have found out the value of
work done on the 31st of March, which is shown in Table 2 below.
Table 2: The Actual Value of Work Done and Direct Cost Incurred as of the
31st of March
Project
Actual Value of Work
Done
300,000
250,000
250,000
280,000
Direct Cost Incurred
220,000
180,000
200,000
240,000
A
Each project is supposed to contribute 10%
profit and 8% orerhead to the compoany.
You are requested to present to the
company the turnorer as of the 31st of
march. Prepare your answer by answering
the following questions.
a) Calculate the planned ralue of work
done, the total planned orerhead and the
total profit contribution from all the
projects as of the 31st of march.
b) Calculate the actual ralue of work done
and the totalactual profit contribution
from all the projects as of the 31st of
march.
c) Analyse
planned and actual nett profit
contribution of all the projects as of the
31stof march, and comment on the status
of the projects.
on the rariance between the
Transcribed Image Text:Table 1: The Planned Value of Work Done Schedule March 120,000 120,000 70,000 100,000 Jan Feb Project A Project B Project C Project D 60,000 100,000 80,000 120,000 100,000 80,000 80,000 120,000 Аpril 120,000 140,000 90,000 120,000 May 200,000 140,000 100,000 150,000 Based on the data obtained from each project, you have found out the value of work done on the 31st of March, which is shown in Table 2 below. Table 2: The Actual Value of Work Done and Direct Cost Incurred as of the 31st of March Project Actual Value of Work Done 300,000 250,000 250,000 280,000 Direct Cost Incurred 220,000 180,000 200,000 240,000 A Each project is supposed to contribute 10% profit and 8% orerhead to the compoany. You are requested to present to the company the turnorer as of the 31st of march. Prepare your answer by answering the following questions. a) Calculate the planned ralue of work done, the total planned orerhead and the total profit contribution from all the projects as of the 31st of march. b) Calculate the actual ralue of work done and the totalactual profit contribution from all the projects as of the 31st of march. c) Analyse planned and actual nett profit contribution of all the projects as of the 31stof march, and comment on the status of the projects. on the rariance between the
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