Budget Performance Report for a Cost Center Funderburk Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended January 31 is as follows: Customer service salaries $628,870 Insurance and property taxes 131,860 Distribution salaries 1,003,190 Marketing salaries 1,182,630 Engineer salaries 962,380 Warehouse wages 674,030 Equipment depreciation 211,360 Total $4,794,320 During January, the costs incurred in the Consumer Products Division were as follows: Customer service salaries $692,700 Insurance and property taxes 126,780 Distribution salaries 990,380 Marketing salaries 1,248,010 Engineer salaries 943,010 Warehouse wages 647,030 Equipment depreciation 211,150 Total $4,859,060 Required: 1. Prepare a budget performance report for the director of the Consumer Products Division for the month of January. If an amount box does not require an entry, leave it blank. Funderburk, Inc.Budget Performance Report—Director, Consumer Products DivisionFor the Month Ended January 31 Actual Budget Over Budget Under Budget Customer service salaries $fill in the blank $fill in the blank $fill in the blank $fill in the blank Insurance and property taxes fill in the blank fill in the blank fill in the blank fill in the blank Distribution salaries fill in the blank fill in the blank fill in the blank fill in the blank Marketing salaries fill in the blank fill in the blank fill in the blank fill in the blank Engineer salaries fill in the blank fill in the blank fill in the blank fill in the blank Warehouse wages fill in the blank fill in the blank fill in the blank fill in the blank Equipment depreciation fill in the blank fill in the blank fill in the blank fill in the blan Total $fill in the blank $fill in the blank $fill in the blank $fill in the blan
Budget Performance Report for a Cost Center Funderburk Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended January 31 is as follows: Customer service salaries $628,870 Insurance and property taxes 131,860 Distribution salaries 1,003,190 Marketing salaries 1,182,630 Engineer salaries 962,380 Warehouse wages 674,030 Equipment depreciation 211,360 Total $4,794,320 During January, the costs incurred in the Consumer Products Division were as follows: Customer service salaries $692,700 Insurance and property taxes 126,780 Distribution salaries 990,380 Marketing salaries 1,248,010 Engineer salaries 943,010 Warehouse wages 647,030 Equipment depreciation 211,150 Total $4,859,060 Required: 1. Prepare a budget performance report for the director of the Consumer Products Division for the month of January. If an amount box does not require an entry, leave it blank. Funderburk, Inc.Budget Performance Report—Director, Consumer Products DivisionFor the Month Ended January 31 Actual Budget Over Budget Under Budget Customer service salaries $fill in the blank $fill in the blank $fill in the blank $fill in the blank Insurance and property taxes fill in the blank fill in the blank fill in the blank fill in the blank Distribution salaries fill in the blank fill in the blank fill in the blank fill in the blank Marketing salaries fill in the blank fill in the blank fill in the blank fill in the blank Engineer salaries fill in the blank fill in the blank fill in the blank fill in the blank Warehouse wages fill in the blank fill in the blank fill in the blank fill in the blank Equipment depreciation fill in the blank fill in the blank fill in the blank fill in the blan Total $fill in the blank $fill in the blank $fill in the blank $fill in the blan
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Budget Performance Report for a Cost Center
Funderburk Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended January 31 is as follows:
| Customer service salaries | $628,870 |
| Insurance and property taxes | 131,860 |
| Distribution salaries | 1,003,190 |
| Marketing salaries | 1,182,630 |
| Engineer salaries | 962,380 |
| Warehouse wages | 674,030 |
| Equipment |
211,360 |
| Total | $4,794,320 |
During January, the costs incurred in the Consumer Products Division were as follows:
| Customer service salaries | $692,700 |
| Insurance and property taxes | 126,780 |
| Distribution salaries | 990,380 |
| Marketing salaries | 1,248,010 |
| Engineer salaries | 943,010 |
| Warehouse wages | 647,030 |
| Equipment depreciation | 211,150 |
| Total | $4,859,060 |
Required:
1. Prepare a budget performance report for the director of the Consumer Products Division for the month of January. If an amount box does not require an entry, leave it blank.
| Actual | Budget | Over Budget | Under Budget | |
| Customer service salaries | $fill in the blank | $fill in the blank | $fill in the blank | $fill in the blank |
| Insurance and property taxes | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
| Distribution salaries | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
| Marketing salaries | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
| Engineer salaries | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
| Warehouse wages | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
| Equipment depreciation | fill in the blank | fill in the blank | fill in the blank | fill in the blan |
| Total | $fill in the blank | $fill in the blank | $fill in the blank | $fill in the blan |
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