Astroll Mahato Company has provided the following report for the most recent period.Astroli Mahato CompanyFor the Period Ended March 31Actual Results Planning BudgetMachine-hoursDirect labor wagesSuppliesMaintenanceUtilitiesSupervisionDepreciationTotal42,000$ 74,00040,000$ 72,40022,30020,80022,50020,50020,20019,10043,00043,00071,000$ 253,00071,000$ 246,800Direct labor wages and supplies are variable costs; supervision and depreciation are fixed costs; and maintenance and utilities aremixed costs. The fixed component of the budgeted maintenance cost is $12,900; the fixed component of the budgeted utilities cost is$13,000.Required:2. Complete the performance report below to calculate the spending variances for the period. (Do not round your intermediatecalculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e.,zero variance). Input all amounts as positive values.)Astroli Mahato CompanySPENDING VARIANCESMachine-hoursDirect labor wagesSuppliesMaintenanceUtilitiesSupervisionDepreciationTotal

To complete the performance report for Astroli Mahato Company and calculate the spending variances,…

Answered: Astroll Mahato Company has provided 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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A. The South Department of ABC Corporation is a cost center. The budget for the month of March 20X2 is as follows: Sales salaries 406,725 System support salaries 222, 502 Customer relation salaries 75,975 Accounting salaries 48,345 Depreciation of plant and equipment 45,700 Repairs and maintenance 134,200 Insurance and property taxes 20,245 During March 20X2 the following costs were incurred by South Department: Sales salaries 406,205 System support salaries 222, 450 Customer relation salaries 80,120 Accounting salaries 48,245 Depreciation of plant and equipment 45,700 Repairs and maintenance 138,950 Insurance and property taxes 20,500 REQUIRED: Prepare a performance report for the manager of South Dept for March 20x2. Explain which costs the manager might be expected to request additional reports.
i Required information [The following information applies to the questions displayed below] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results for May as shown below: Revenue Employee salaries and wages Travel expenses Other expenses Fixed Element per Month Variable Element per Customer Served Actual Total for May $ 6,600 $ 213,500 $ 62,000 $ 2,300 $ 141,100 $ 540 $ 15,700 $ 41,000 $ 38,900 When preparing its planning budget the company estimated that it would serve 30 customers per month; however, during May the company actually served 35 customers. 5. What activity variances would Adger report with respect to each of its expenses for May? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive…
Current Attempt in Progress The controller of Oriole Industries has collected the following monthly cost data for use in analyzing the behavior of maintenance costs. Month January February March April May June Total Maintenance Costs $2,860 3,160 3,760 4,660 3,360 5,260 Total Machine Hours 320 370 520 670 520 720
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Static budget versus flexible budget The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown Company Machining Department Monthly Production Budget Wages Utilities Depreciation Total $1,090,000 49,000 82,000 $1,221,000 The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: Amount Spent Units Produced 100,000 91,000 82,000 May June July The Machining Department supervisor has been very pleased with this performance because actual expenditures for May-July have been significantly less than the monthly static budget of 1,221,000. However, the plant manager believes that the budget should not remain fixed for every month but should "flex" or adjust to the volume of work that is produced in the Machining Department. Additional budget information for the Machining Department is as follows: $1,150,000 1,095,000 1,042,000…
Below is the selected information for a company for last year: Budgeted fixed manufacturing overhead cost Denominator activity (machine-hours) Standard machine-hours allowed per unit Actual number of units produced Underapplied fixed manufacturing overhead $270,000 45,000 3 14,000 $15,200 Actual fixed cost for last year was: 236,800 O 267,200 254,800 285,200
ost Centers Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Plant Eastern Region Central Region Western Region Department Cost Chip Fabrication Electronic Assembly Final Assembly Budget Performance Report-Vice President, Production For the Month Ended June 30 a. $ Factory wages Materials Power and light Maintenance b. $ c. $ d. $ e. $ f. $ Actual $390,100 278,100 (g) $(j) Delmar Company Actual $(a) 87,290 137,620 $(d) Budget $390,100 280,900 Actual Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 $29,190 73,790 5,320 6,920 (h) $(k) $115,220 $ (b) 86,170 138,730 $(e) Over Budget Budget $(c) 1,120 Over Budget Budget (1) $(1) g. $ h. $ j. $ k. $ 1. $ Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 (Under) Budget $(f) $0 (2,800) $27,280 74,310 4,470 850 6,320 600 $112,380 $3,360 $(520) a. Complete the budget performance reports…
A review of the company's accounting records for the year just ended discovered the following: Farrina Manufacturing uses a predetermined overhead application rate of $8 per direct labor hour. Underapplied manufacturing overhead: $7.200 Actual manufacturing overhead: $392.000 Budgeted labor hours: 50.000 Simone's actual labor hours worked totaled: O 49,100. 0 49,900. 48.100. 50.900. O cannot be determined based on the information presented.
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The following data pertain to the current year:Budgeted manufacturing overhead: OMR 390,000Actual manufacturing overhead: OMR 440,000Budgeted machine hours: 30,000 hrs.Actual machine hours: 33,000 hrs.Overhead applied to production totaled: Select one: a. 484,000 b. 455,000 c. 429,000 d. 355,000
Subject :- Accounting

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