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Bhushan Steel

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Bhushan Power & Steel Ltd. Item manufactured: Precision Tubes Output: 200 Metric tonnes daily Direct Material CR Strips Qty 200 tonnes daily Price RS.45000/M.T Direct Labour No of labour hours Labour Rate 24 hrs daily/Three Shift Basis Rs.1000/M.T Overheads Power Expenses: Store Expenses: Yield Loss: Contractor: Working Capital Expenses: Transportation Expenses: Other office Expenses Miscellaneous Expenses: Total Actual Cost Standard Cost Variance =Standard cost – Actual Cost. Standard Cost
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  Bhushan Power & Steel Ltd. Standard Costing Data: Bhushan Power & Steel Ltd.   50-51   Item manufactured : Precision Tubes Output : 200 Metric tonnes daily Direct Material Qty PriceCR Strips 200 tonnes daily RS.45000/M.T Direct Labour No of labour hours 24 hrs daily/Three Shift BasisLabour Rate Rs.1000/M.T Overheads Power Expenses: Rs.350/M.TStore Expenses: Rs. 850/M.TYield Loss: Rs. 600/M.TContractor: Rs. 300/M.TWorking Capital Expenses: Rs. 1200/M.TTransportation Expenses: Rs. 1200/M.TOther office Expenses Rs.700/M.TMiscellaneous Expenses: Rs. 200/M.T Total Actual Cost Rs. 51400/M.TStandard Cost Rs. 55000/M.TVariance =Standard cost  –  Actual Cost.  Bhushan Power & Steel Ltd. Standard Costing Data: Bhushan Power & Steel Ltd.   50-51   Thus, Variance is Rs. 3600 FIf Variance comes out to be unfavourable, then company needs to redesign its cost systems.Final Product is Precision Tubes which has following applications:    Automobile    Bicycle    Furniture    Shock Absorber    General Engineering
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