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A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 25,000 $7,500 23,800 72,200 70,300 97,000 Master Budget 30,000 $ 8,100 25,500 84,000 Variances 67,000 97,000 $ 270,800 $ 281,600 $ 10,800 F Required: Prepare a flexible budget performance report for the month of March, $ 600 F 1,700 F 11,800 F 3,300 U 0

A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 25,000 $7,500 23,800 72,200 70,300 97,000 Master Budget 30,000 $ 8,100 25,500 84,000 Variances 67,000 97,000 $ 270,800 $ 281,600 $ 10,800 F Required: Prepare a flexible budget performance report for the month of March, $ 600 F 1,700 F 11,800 F 3,300 U 0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 25,000 $7,500 23,800 72,200 70,300 97,000 $ 270,800 Master Budget 30,000 $ 8,100 25,500 84,000 Required: Prepare a flexible budget performance report for the month of March. Variances $ 600 F 1,700 F 11,800 F 67,000 97,000 $281,600 $ 10,800 P Complete this question by entering your answers in the tabs below. 3,300 U 0
Transcribed Image Text:A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 25,000 $7,500 23,800 72,200 70,300 97,000 $ 270,800 Master Budget 30,000 $ 8,100 25,500 84,000 Required: Prepare a flexible budget performance report for the month of March. Variances $ 600 F 1,700 F 11,800 F 67,000 97,000 $281,600 $ 10,800 P Complete this question by entering your answers in the tabs below. 3,300 U 0
Required 3 Complete the new performance report for the quarter, based on Flexible Budget Performance approach. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance). Input all amounts as positive values.) Machine-hours (a) Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total Actual Results Assembly Department Flexible Budget Performance Report For the Month Ended March 31 Spending Variance 25,000 7,500 23,800 72,200 70,300 97,000 $ 270,800 $ Required 3 Flexible Budget Volume Variance Baxt > Master Budget 30,000 8,100 25,500 84,000 67,000 97,000 $ 281,600 $
Transcribed Image Text:Required 3 Complete the new performance report for the quarter, based on Flexible Budget Performance approach. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (1.e., zero variance). Input all amounts as positive values.) Machine-hours (a) Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total Actual Results Assembly Department Flexible Budget Performance Report For the Month Ended March 31 Spending Variance 25,000 7,500 23,800 72,200 70,300 97,000 $ 270,800 $ Required 3 Flexible Budget Volume Variance Baxt > Master Budget 30,000 8,100 25,500 84,000 67,000 97,000 $ 281,600 $
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