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Actual Budget Variance Machine-hours 39,920 36,600 Direct labour wages $ 86,100 $ 84,180 $1,920 U Supplies 24,220 21,960 2,260 U Maintenance 145,300 142,160 3,140 U Utilities Supervision 17,620 16,960 660 U 41,200 41,200 e Depreciation Total 83,200 $397,640 83,200 $389,660 $7,980 U Just can't understand all of these unfavourable variances." Weston complained to the supervisor of another department. "When the oss called me in, I thought she was going to give me a pat on the back because I know for a fact that my department worked more efficiently last month than it has ever worked before. Instead, she tore me apart. I thought for a minute that it might be over the upplies that were stolen out of our warehouse last month. But they amounted to only a couple of hundred dollars, and just look at this eport. Everything is unfavourable." Direct labour wages and supplies are variable costs; supervision and depreciation are fixed costs; and maintenance and utilities are mixed costs. The fixed component of the budgeted maintenance cost is $98,240; the fixed component of the budgeted utilities cost is 13,300. equired: 1. This part of the question is not part of your Connect assignment. 2. Complete the performance report that will help Weston's superiors assess how well costs were controlled in the Machining Department. Note: 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 (ie., zero variance). Input all amounts as positive values. Freemont Corporation-Machining Department Comprehensive Performance Report For the Month Ended June 30 Actual Results Flexible Budget Variance Machine-hours 39,920 Flexible Budget Planning Volume Variance Budget 36,600

Actual Budget Variance Machine-hours 39,920 36,600 Direct labour wages $ 86,100 $ 84,180 $1,920 U Supplies 24,220 21,960 2,260 U Maintenance 145,300 142,160 3,140 U Utilities Supervision 17,620 16,960 660 U 41,200 41,200 e Depreciation Total 83,200 $397,640 83,200 $389,660 $7,980 U Just can't understand all of these unfavourable variances." Weston complained to the supervisor of another department. "When the oss called me in, I thought she was going to give me a pat on the back because I know for a fact that my department worked more efficiently last month than it has ever worked before. Instead, she tore me apart. I thought for a minute that it might be over the upplies that were stolen out of our warehouse last month. But they amounted to only a couple of hundred dollars, and just look at this eport. Everything is unfavourable." Direct labour wages and supplies are variable costs; supervision and depreciation are fixed costs; and maintenance and utilities are mixed costs. The fixed component of the budgeted maintenance cost is $98,240; the fixed component of the budgeted utilities cost is 13,300. equired: 1. This part of the question is not part of your Connect assignment. 2. Complete the performance report that will help Weston's superiors assess how well costs were controlled in the Machining Department. Note: 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 (ie., zero variance). Input all amounts as positive values. Freemont Corporation-Machining Department Comprehensive Performance Report For the Month Ended June 30 Actual Results Flexible Budget Variance Machine-hours 39,920 Flexible Budget Planning Volume Variance Budget 36,600

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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Machine-hours Direct labour wages Supplies Maintenance Utilities Static Budget Actual 39,920 Budget 36,600 Variance $ 86,100 $ 84,180 $1,920 U 24,220 21,960 2,260 U 145,300 142,160 3,140 U 17,620 16,960 660 U 41,200 41,200 83,200 83,200 8 Supervision Depreciation Total $397,640 $389,660 $7,980 U "I just can't understand all of these unfavourable variances." Weston complained to the supervisor of another department. "When the boss called me in, I thought she was going to give me a pat on the back because I know for a fact that my department worked more efficiently last month than it has ever worked before. Instead, she tore me apart. I thought for a minute that it might be over the supplies that were stolen out of our warehouse last month. But they amounted to only a couple of hundred dollars, and just look at this report. Everything is unfavourable." Direct labour wages and supplies are variable costs; supervision and depreciation are fixed costs; and maintenance and utilities are mixed costs. The fixed component of the budgeted maintenance cost is $98,240; the fixed component of the budgeted utilities cost is $13,300. Required: 1. This part of the question is not part of your Connect assignment. 2. Complete the performance report that will help Weston's superiors assess how well costs were controlled in the Machining Department. Note: 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 (l.e., zero variance). Input all amounts as positive values. Freemont Corporation-Machining Department Comprehensive Performance Report For the Month Ended June 30 Actual Results Flexible Budget Variance Flexible Budget Volume Variance Planning Budget Machine-hours Direct labor wages 39,920 36,600 $ 88,100 $ 84,180 Supplies 24,220 21,960 Maintenance 145,300 142,180 Utilities 17,820 16,980 Supervision 41,200 41,200 Depreciation 83,200 83,200 Total $ 0
Transcribed Image Text:Machine-hours Direct labour wages Supplies Maintenance Utilities Static Budget Actual 39,920 Budget 36,600 Variance $ 86,100 $ 84,180 $1,920 U 24,220 21,960 2,260 U 145,300 142,160 3,140 U 17,620 16,960 660 U 41,200 41,200 83,200 83,200 8 Supervision Depreciation Total $397,640 $389,660 $7,980 U "I just can't understand all of these unfavourable variances." Weston complained to the supervisor of another department. "When the boss called me in, I thought she was going to give me a pat on the back because I know for a fact that my department worked more efficiently last month than it has ever worked before. Instead, she tore me apart. I thought for a minute that it might be over the supplies that were stolen out of our warehouse last month. But they amounted to only a couple of hundred dollars, and just look at this report. Everything is unfavourable." Direct labour wages and supplies are variable costs; supervision and depreciation are fixed costs; and maintenance and utilities are mixed costs. The fixed component of the budgeted maintenance cost is $98,240; the fixed component of the budgeted utilities cost is $13,300. Required: 1. This part of the question is not part of your Connect assignment. 2. Complete the performance report that will help Weston's superiors assess how well costs were controlled in the Machining Department. Note: 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 (l.e., zero variance). Input all amounts as positive values. Freemont Corporation-Machining Department Comprehensive Performance Report For the Month Ended June 30 Actual Results Flexible Budget Variance Flexible Budget Volume Variance Planning Budget Machine-hours Direct labor wages 39,920 36,600 $ 88,100 $ 84,180 Supplies 24,220 21,960 Maintenance 145,300 142,180 Utilities 17,820 16,980 Supervision 41,200 41,200 Depreciation 83,200 83,200 Total $ 0
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