Guidance for students
This spreadsheet should be used alongside Section 9 of the course.
Each sheet corresponds to a lecture example e.g. LE1 is Lecture Example 1.
You should read the requirement for each task in your course notes.
Step by step instructions on how to complete the tasks are included at the end of the chapter in your course notes.
You should also download the spreadsheet called 'Lecture Examples - Solutions' to check your answers.
your course notes.
Cost card
£
Direct (or ‘traceable’) costs:
Direct material 4 wheels @ £20/wheel 80
Direct labour 2 hours @ £15/hour 30
Prime cost (total of direct costs) 110
Indirect (or ‘shared’) costs
Variable overheads 2 hours @ £5/hour 10
Fixed overheads £50,000/10,000 units 5
Total production cost 125
Budget for the period ended 31 December 20XX
Budgeted units 1,000
£
Sales revenue (1,000 x £80) 80,000
Variable costs:
Materials (1,000 x £12) 12,000
Labour (1,000 x £30) 30,000
Fixed overheads 20,000
Total cost 62,000
Total profit 18,000
Employee name: Stella
Clock card number: 449393
Week number: 12
Mon Tues Wed Thurs Fri
Hours worked 8.5 8.5 9 8.5 9
Basic pay £ 112.00 £ 112.00 £ 112.00 £ 112.00 £ 112.00
Overtime pay £ 8.75 £ 8.75 £ 17.50 £ 8.75 £ 17.50
Units produced 138 142 147 150 153
Extra units 2 6 3 14 9
Bonus payable £ 5.00 £ 15.00 £ 7.50 £ 35.00 £ 22.50
Total payable for the day £ 125.75 £ 135.75 £ 137.00 £ 155.75 £ 152.00
Coding transactions
Profit/Cost centre Code Sub-classification Sub-code
Sales 150 Sales of men’s sho 75
Sales of women’s 95
Production 240 Direct cost 125
Indirect cost 145
Administration 360 Direct cost 255
Indirect cost 275
Selling and distribut 480 Direct cost 375
Indirect cost 395
(a) Format cell C1 to a percentage with three decimal places. 0.461846859
(b) Format cell C2 to a percentage with no decimal places. 0.17463816
(c) Format cell C3 to a number with two decimal places. 6.716486635
(d) Add a thousand separator to cell C4. 65645
(e) Format cell C5 to the accounting format. 62547.726
Budget Actual Variance Variance
£ £ £ %
Sales 720,000 748,000
Material 300,000 310,000
Labour 225,000 223,500
Electricity 45,000 46,000
Rent 60,000 58,000
Total costs
Profit
