You have been provided with the budgeted and actual information of XYZ Ltd as shown below;
Budgeted information for May 2020
Production in units
25,000
Direct material (250,000 kgs)
Tshs 362,500
Direct labour (87,500 hours) Tshs 1,089,375
Variable production overheads
Tshs 271,250
Actual results achieved for May 2020
Production in units
Direct material (263,250 kgs)
Direct labour 197,200 hours)
Variable production overheads
27,000
Tshs 394,875
Tshs 1,190,700
Tshs 306,180
Notes:
1. Actual fixed productions overheads for May 2020 amounted to Tshs
172,400
2. Budgeted fixed production overheads was Tshs 175,000 per month
3. Variable production overheads were applied to products based on
budgeted labour hours
Required:
a) Prepare a cost statement showing the original budget, flexed budget and
actual results.
(9 marks)
b) Briefly explain behaviour issues that may arise as part of the annual
budgeting process
(6 mark

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