Blossom Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is expected to range from 80,800 to 111.200 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $5, direct labour $8, and overhead $9. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision $3. In March 2022, the company incurs the following costs in producing 96,000 units: direct materials $505,000, direct labour $763,000, and variable overhead $867,000. Actual fixed overhead equalled budgeted fixed overhead. Prepare a flexible budget report for March. (List variable costs before fixed costs) BLOSSOM COMPANY Manufacturing Flexible Budget Report Differen Favoural
Blossom Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is expected to range from 80,800 to 111.200 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $5, direct labour $8, and overhead $9. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision $3. In March 2022, the company incurs the following costs in producing 96,000 units: direct materials $505,000, direct labour $763,000, and variable overhead $867,000. Actual fixed overhead equalled budgeted fixed overhead. Prepare a flexible budget report for March. (List variable costs before fixed costs) BLOSSOM COMPANY Manufacturing Flexible Budget Report Differen Favoural
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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Transcribed Image Text:Depreciation
Direct Labour
Direct Materials
Fixed Costs
Overhead
Supervision
Total Costs
Total Fixed Costs
Total Variable Costs
Variable Costs
Units Produced
Budget
Actual
Favourable
Unfavourable
Neither Favourable
nor Unfavourable
Transcribed Image Text:Blossom Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is expected to range
from 80,800 to 111.200 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $5, direct labour $8, and
overhead $9. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision $3.
In March 2022, the company incurs the following costs in producing 96,000 units: direct materials $505,000, direct labour $763,000,
and variable overhead $867,000. Actual fixed overhead equalled budgeted fixed overhead.
Prepare a flexible budget report for March. (List variable costs before fixed costs.)
BLOSSOM COMPANY
Manufacturing Flexible Budget Report
Differen
Favoural
Unfavoura
Neither Favo
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