moorcroft ltd manufactures one product the production budget for june 2016 shows the 611304

Moorcroft Ltd manufactures one product. The production budget for June 2016 shows the following costs per unit:

£

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Materials (£8 per kg)

4

Labour (£10 per hour)

15/19

Budgeted sales for the month were 5,000 units at £100 each. In July 2016, the management accountants compared the actual performance for the previous month and produced the following information based on actual sales of 5,000 at £80.

£

Materials (3,600 kg)

27,000

Labour (10,000 hours)

95,000

Budgeted £

Profit £

Actual £

profit £

Revenue for June

500,000

400,000

Materials expenditure

20,000

27,000

Labour expenditure

75,000

95,000

95,000

122,000

Profit for June

405,000

278,000

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