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Bailey plc commenced business on 1 March making one product only, the standard cost ofwhich is as follows:Thefixed production overhead figure has been calculated on the basis of a budgeted normaloutput of 36,000 units per annum. The actual fixed production overhead incurred in Marchand April was £15,000 each month.Selling, distribution and administration expenses are:
£10,000 per month
15% of the sales value
The selling price per unit is £35 and the numbers of units produced and sold were:
Prepare profit statements for each of the months of March and April using:
absorption costing; andmarginal costing.
Present a reconciliation of the profit or loss figures given in your answers to (a).
Variable production overhead
Fixed production overhead (Budgeted rate)
Standard production cost/unit
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