Budget Performance Reports for Cost CentersPartially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow:Delmar CompanyPlantEastern RegionCentral RegionWestern RegionDepartmentCostChip FabricationElectronic AssemblyFinal Assemblyb. $Budget Performance Report-Vice President, ProductionFor the Month Ended June 30Factory wagesMaterialsPower and lightMaintenanceC. $d. $e. $f.Actual$482,700344,000The(9)$(j)ActualActual$(a)64,920102,350$(d)Delmar CompanyBudget Performance Report-Manager, Western Region PlantFor the Month Ended June 30Budget$482,700347,500Budget1.9.h. $i. $j. $k. $(h)$(k)BudgetDelmar CompanyBudget Performance Report-Supervisor, Chip FabricationFor the Month Ended June 30$31,04071,1003,8307,560MEMOTo: Randi Wilkes, Vice President of Production$113,530OverBudget$(b)64,090103,180$(e)(i)$(1)OverBudget$2,170$33,21070,6004,5608,280$116,650$3,620$(500)a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above.a. $OverBudget$(c)830730720$(f)(Under)Budget$(3,500)(Under)Budget$0(3,500)$(500)(Under)Budget$(830)$(830)b. Complete the following memo to Randi Wilkes, vice president of production for Delmar Company, explaining the performance of the production division for June.plant has experienced a budget overrun. Its budget reveals that theDepartment should investigate the reasons for the budget overruns inDepartment caused the majority of the budget overrun. The supervisor of the

calculations for each of the variables:$a (Chip Fabrication - Actual):This represents the actual…

a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above. a. $ 9. $ b. $ h. $ C. S i. $ d. s J. S e. $ k. S f. s 1. $ b. Complete the following memo to Randi Wilkes, vice president of production for Delmar Company, explaining the performance of the production division for June. MEMO To: Randi Wilkes, Vice President of Production The plant has experienced a budget overrun. Its budget reveals that the Department should investigate the reasons for the budget overruns in Department caused the majority of the budget overrun. The supervisor of the

a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above. a. $ 9. $ b. $ h. $ C. S i. $ d. s J. S e. $ k. S f. s 1. $ b. Complete the following memo to Randi Wilkes, vice president of production for Delmar Company, explaining the performance of the production division for June. MEMO To: Randi Wilkes, Vice President of Production The plant has experienced a budget overrun. Its budget reveals that the Department should investigate the reasons for the budget overruns in Department caused the majority of the budget overrun. The supervisor of the

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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eBook Print Item Professional Fees Earned Budget Day & Spieth, CPAS, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending March 31, 20Y6: Billable Hours Audit Department: Staff 27,300 Partners 4,100 Tax Department: Staff 21,000 Partners 2,600 Small Business Accounting Department: Staff 3,500 Partners 500 The average billing rate for staff is $105 per hour, and the average billing rate for partners is $225 per hour. Prepare a professional fees earned budget for Day & Spieth, CPAS, for the year ending March 31, 20Y6. DAY & SPIETH, CPAS Professional Fees Earned Budget For the Year Ending March 31, 20Y6 Sign out O 11:09
Given the following information, determine the activity rate for setups. Activity Total Activity-Base Usage Budgeted Activity Cost Setups 10,800 $58,100 Inspections 23,600 $142,200 Assembly (dlh) 76,400 $411,600 a.$5.38 b.$6.03 c.$5.52 d.$5.39
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Consider Derek's budget information: materials to be used totals $62,400; direct labor totals $199,600; factory overhead totals $399,700; work in process inventory January 1 is $187,000; and work in progress inventory on December 31 is $194,000. The budgeted cost of goods manufactured for the year is a.$654,700 b.$661,700 c.$848,700 d.$194,000
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Given the following information, determine the activity rate for setups. Activity Total Activity-Base Usage Budgeted Activity Cost Setups 9,900 $60,300 Inspections 24,900 $130,000 Assembly (dlh) 76,600 $389,000 a.$5.08 b.$6.09 c.$5.22 d.$5.20
Consider Derek's budget information: materials to be used totals $64,600; direct labor totals $199,100; factory overhead totals $402,200; work in process inventory January 1 is $189,100; and work in progress inventory on December 31 is $193,600. The budgeted cost of goods manufactured for the year is a. $665,900 b. $855,000 O c. $661,400 d. $193,600
JDC Engineering Co. provided the following information for their business year ending June 30th, 2021. Plant Manager VP of Manufacturing President Controllable Expenses Budget Actual Budget Actual Budget Actual Office expense 7,370 9,770 12,760 17,030 23,110 17,490 Printing 19,950 17,290 Paging 2,410 2,110 Binding 4,650 4,940 Purchasing 23,940 27,390 Receiving 11,380 14,130 Inspection 18,790 16,830 VP of Marketing 197,230 171,530 Controller 138,680 121,110 Treasurer 97,000 72,870 VP of Personnel 48,170 71,360 Prepare the responsibility accounting reports for the three levels of management--plant manager, vice president of manufacturing, and president.Plant Manager - Responsibility Report Budget Actual Variance Office expense Printing Paging Binding Total Controllable Cost VP of Manufacturing - Responsibility…
____ 46. The budget process involves doing all the following except: a. establishing specific goals b. executing plans to achieve the goals c. periodically comparing actual results with the goals d. dismissing all managers who fail to achieve operational goals specified in the budget ____ 47. Division W of MJW Company has sales of $140,000, cost of goods sold of $83,000, operating expenses of $43,000, and invested assets of $100,000. What is the profit margin for Division W? a. 14% b. 2.8% c. 10% d. 5.47% ____ 48. Bulls Company is considering the acquisition of a machine that costs $375,000. The machine is expected to have a useful life of 6 years, a negligible residual value, an annual cash flow of $150,000, and annual operating income of $87,500. What is the estimated cash payback period for the machine? a. 3 years b. 4.3 years c. 2.5 years d. 5 years ____ 49. The…
The following is monthly budgeted cost and activity information for two activities in the purchasing department of X Company: Activity Variable Costs Fixed Costs Cost Driver Supplier relations $9,500 $16,900 380 suppliers Invoicing $11,700 $26,300 780 invoices In November, actual costs and activity were as follows: Activity Total Costs Driver Amount Supplier relations $28,555 430 suppliers Invoicing $38,115 806 invoices What was the flexible budget variance for the invoicing activity for November (assume that favorable variances are positive numbers and unfavorable variances are negative numbers)? A: $-26,415 B: $-26,025 C: $-11,815 D: $-115 E: $0 OF: $275
The following information is available for Brownstone Products Company for the month of July: Master Actual Budget 4, eee $ 60,000 16, e00 Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses 3,8ee $ 53,600 19,400 14,300 8,100 9,see 13, 30e 8, e00 9,400 Required: 1. What was the master budget varidnce for July? Was this variance favorable or unfavorable? 2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. 4. Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budiget for each of the following two output levels: a. 3,790 units. b. 4,190 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 .. Next
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