Activity-Based Performance Report Jarend Company produced 40,000 units last year. The information on the actual costs and budgeted costs at actual production of four activities is provided below. Activity Actual Cost Purchasing Maintenance $159,300 $159,000 Machining 205,200 204,800 Setting up Budgeted Cost for Actual Production 106,500 104,800 159,400 159,600 Prepare an activity-based performance report for the four activities for the past year. In the variance type column, select "F" for favorable and "U" for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column. Jarend Company Performance Report Units produced Maintenance $ Machining Setting up Purchasing Actual Budgeted Variance Total $ $ $ $ $ Variance Type (F or U or N)
Activity-Based Performance Report Jarend Company produced 40,000 units last year. The information on the actual costs and budgeted costs at actual production of four activities is provided below. Activity Actual Cost Purchasing Maintenance $159,300 $159,000 Machining 205,200 204,800 Setting up Budgeted Cost for Actual Production 106,500 104,800 159,400 159,600 Prepare an activity-based performance report for the four activities for the past year. In the variance type column, select "F" for favorable and "U" for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column. Jarend Company Performance Report Units produced Maintenance $ Machining Setting up Purchasing Actual Budgeted Variance Total $ $ $ $ $ Variance Type (F or U or N)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:Activity-Based Performance Report
Jarend Company produced 40,000 units last year. The information on the actual costs and budgeted costs at actual production of four
activities is provided below.
Budgeted Cost for
Actual Production
Maintenance $159,300
$159,000
Machining 205,200 204,800
Setting up
106,500 104,800
Activity
Purchasing
Actual
Cost
159,400
159,600
Prepare an activity-based performance report for the four
activities for the past year. In the variance type column,
select "F" for favorable and "U" for unfavorable. If the
variance is zero, enter ("O") in the variance amount column
and "N" for neither in the variance type column.
Jarend
Company
Performance
Report
Actual Budgeted Variance
Units
produced
Maintenance $
Machining
Setting up
Purchasing
Total
$
$
$
$
$
Variance
Type (F
or U or
N)
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