Budget Performance Reports for Cost CentersPartially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow:Delmar CompanyBudget Performance Report-Vice President, ProductionFor the Month Ended June 30PlantActualBudgetOver Budget(Under) BudgetEastern Region$4,200,000$4,250,000$(50,000)Central Region6,175,0006,200,000(25,000)Western Region(g)(h)$(1)$6)$(k)$(1)$(75,000)Delmar CompanyBudget Performance Report-Manager, Western Region PlantFor the Month Ended June 30DepartmentActualBudgetOver Budget(Under) BudgetChip Fabrication$(a)$(b)$Cc)Electronic Assembly2,575,0002,500,00075,000Final Assembly1,640,0001,700,000$(60,000)$(d)$(e)$(f)$(60,000) Budget Performance Report-Supervisor, Chip FabricationFor the Month Ended June 30CostActualBudgetOver Budget(Under) BudgetFactory wages$1,450,000$1,200,000$250,000Materials1,575,0001,600,000$(25,000)Power and light945,000900,00045,000Maintenance330,000300,00030,000$4,300,000$4,000,000$325,000$(25,000)a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above.а. $g. $Б. $h. $c. $i. $d. $j. $e. $k. $f. $I. $b. Complete the following memo to Randi Wilkes, vice president of production for Delmar Company, explaining the performance of the production division for June.MEMOTo: Randi Wilkes, Vice President of ProductionTheplant has experienced a budget overrun. Its budget reveals that theDepartment caused the majority of the budget overrun. Thesupervisor of theDepartment should investigate the reasons for the budget overruns in

Name: Budget Performance Reports for Cost CentersPartially completed budget
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Budget Performance Reports for Cost CentersPartially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow:Delmar CompanyBudget Performance Report-Vice President, ProductionFor the Month Ended June 30Pl

a. the CHIP FABRICATION BUDGET PERFORMANCE REPORT are given b. c. d. =…

Business

Accounting

Budget Performance Reports for Cost Centers Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Budget Performance Report-Vice President, Production For the Month Ended June 30 Plant Actual Budget Over Budget (Under) Budget Eastern Region $4,200,000 $4,250,000 $(50,000) Central Region 6,175,000 6,200,000 (25,000) Western Region (g) (h) $(i) $6) $(k) $(1) $(75,000) Delmar Company Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 Department Actual Budget Over Budget (Under) Budget Chip Fabrication $(a) $(b) $Cc) Electronic Assembly 2,575,000 2,500,000 75,000 Final Assembly 1,640,000 1,700,000 $(60,000) s(d) $(e) $(f) $(60.000)

Budget Performance Reports for Cost Centers Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Budget Performance Report-Vice President, Production For the Month Ended June 30 Plant Actual Budget Over Budget (Under) Budget Eastern Region $4,200,000 $4,250,000 $(50,000) Central Region 6,175,000 6,200,000 (25,000) Western Region (g) (h) $(i) $6) $(k) $(1) $(75,000) Delmar Company Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 Department Actual Budget Over Budget (Under) Budget Chip Fabrication $(a) $(b) $Cc) Electronic Assembly 2,575,000 2,500,000 75,000 Final Assembly 1,640,000 1,700,000 $(60,000) s(d) $(e) $(f) $(60.000)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Budget Performance Report-Vice President, Production For the Month Ended June 30 Plant Actual Budget Over Budget (Under) Budget Eastern Region $527,800 $527,800 $0 Central Region 376,200 380,000 (3,800) Western Region (g) (h) (i) $(j) $(k) $(1) $(3,800) Delmar Company Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 Department Actual Budget Over Budget (Under) Budget Chip Fabrication $(a) $(b) $(c) Electronic Assembly 65,620 64,780 840 Final Assembly 103,470 104,300 $(830) $(d) $(e) $(f) $(830) Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 Cost Actual Budget Over Budget (Under) Budget Factory wages $34,330 $32,080 $2,250 Materials 71,070 71,570 $(500) Power and light 4,720 3,970 750 Maintenance 7,980 7,290 690 $118,100 $114,910 $3,690 $(500) a. Complete the budget performance…
Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland COMPANY Budget Performance Report—Vice President, Production For the Month Ended November 30 Plant Actual Budget Over Budget Under Budget Eastern Region $926,750 $929,000 $(2,250) Central Region 664,400 668,000 (3,600) Western Region (G) (H) $(I) $(J) $(K) $(L) $(5,850) Garland COMPANY Budget Performance Report—Manager, Western Region Plant For the Month Ended November 30 Department Actual Budget Over Budget Under Budget Chip Fabrication (A) (B) (C) Electronic Assembly $193,190 $190,500 $2,690 Final Assembly 306,250 307,000 $(750) $(D) $(E) $(F) $(750) Garland COMPANY Budget Performance Report—Supervisor, Chip Fabrication For the Month Ended November 30 Cost Actual Budget Over Budget Under Budget Factory wages $60,220 $58,720 $1,500 Materials 156,940 158,000 $(1,060) Power and light…
Performance Report Based on Budgeted and Actual Levelsof ProductionBowling Company budgeted the following amounts:Variable costs of production:Direct materials 3 pounds @ $0.60 per poundDirect labor 0.5 hr. @ $16.00 per hourVOH 0.5 hr. @ $2.20FOH:Materials handling $6,200Depreciation $2,600 At the end of the year, Bowling had the following actual costs for production of 3,800 units:Direct materials $ 6,800Direct labor 30,500VOH 4,200FOH:Materials handling 6,300Depreciation 2,600Required:1. Calculate the budgeted amounts for each cost category listed above for the 4,000budgeted units.2. Prepare a performance report using a budget based on expected production of 4,000units.3. Prepare a performance report using a budget based on the actual level of production of3,800 units.
1
Please add detail explanation for all calculation. Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. **attached image chart -Budgeted Sales on July $64,000 / August $80,000 / September $48,000 -Budgeted Cash Payments for Direct Materials on July $16,160 / August $13,440 / September $13,760 Direct Labor on July $4,040 / August $3,360 / September $3,440 Factory Overhead on July $20,200 / August $16,800 / September $17,200 Sales are 20% cash and 80% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,000 in accounts receivable; $4,500 in accounts payable; and a $5,000 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid…
Please provide answer in text (Without image)
Harlow Parts produces a single product at its Superior Plant. The master budget for July follows: Harlow Parts Superior Plant Master Budget (For July) Quantity Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit 8,200 $ 1,558,000 590,400 98,400 $ 869,200 212,000 370,000 $ 287,200 The following operating income statement shows the actual results for July: Harlow Parts Superior Plant Operating Results (For July) Quantity (units) Revenue Variable manufacturing cost Variable Selling, General and Administrative cost Contribution margin Fixed manufacturing cost Fixed Selling, General and Administrative cost Operating profit Required: 9,600 $ 1,760,800 780,394 111,040 $ 869,366 223,040 380,000 $ 266,326 Prepare a profit variance analysis for the Superior Plant for July. (Do not round intermediate calculations. Indicate the effect of each variance by…
The following information is from the manufacturing budget and budgeted financial statements of Altman Corporation: Direct materials inventory, 1/1 $ 90,000 Direct materials inventory, 12/31 $ 106,000 Direct materials budgeted for use during year Accounts payable to suppliers, 1/1. $ 348,000- $ 58,000 Accounts payable to suppliers, 12/311 $ 68,000 For the year, budgeted purchases of direct materials amounted to: Multiple Choice
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 Chip Fabrication Electronic Assembly Final Assembly Budget Performance Report-Vice President, Production For the Month Ended June 30 Cost Factory wages Materials Power and light a. S b. Maintenance c. S d. s e. S f. S Actual $402,500 286,900 (g) $(1) Actual $(a) 86,710 135,860 $(d) Delmar Company Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 Over Budget Budget $402,500 289,800 Actual $25,680 73,390 4,460 8,050 (h) $(k) Budget $(b) 85,600 136,960 $(e) i. $ (1) $(1) 9. $ h. $ Over Budget s(c) 1,110 Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 Over Budget Budget $24,000 $1,680 73,910 3,750 7,350 j. s k. $ 1. S $(f) (Under) Budget $0 (2,900) 710 700 $111,580 $109,010 $3,090 $(520) a. Complete the budget performance…
View Policies Current Attempt in Progress Avalon, Inc's static budget shows $40,500 budgeted for direct materials, $54,000 budgeted for direct labor, and $13,500 budgeted for overhead. Avalon's actual direct materials were $42,000, actual direct labor was $51,000, and actual overhead was $13,800. What is the total difference between the static budget and actual, and is the difference favorable or unfavorable? O $4,800, unfavorable O $1,200, favorable O $1,200, unfavorable O $4,800, favorable Save for Later Attempts: 0 of 1 used Submit Answer
Question 1 (Single-rate versus dual-rate methods for allocating support department costs)The Cincinnati power plant that services all manufacturing departments of Eastern MountainEngineering has a budget for the coming year. This budget has been expressed in the following monthlyterms:ManufacturingDepartmentNeeded at Practical CapacityProduction Level (KilowattHoursAverage Expected MonthlyUsage (Kilowatt-Hours)Loretta 13,000 10,000Bently 21,000 9,000Melboum 14,000 10,000Eastmoreland 32,000 11,000Total 80,000 40,000The expected monthly costs for operating the power plant during the budget year are $20,000: $8,000variable and $12,000 fixed.Required:1. Assume that a single cost pool is used for the power plant costs. What budgeted amounts will beallocated to each manufacturing department if:(a) the rate is calculated based on practical capacity and costs are allocated based on practicalcapacity and(b) the rate is calculated based on expected monthly usage and costs are allocated based…
Budgetary Performance for Cost Center Suwanee Company's costs were under budget by $28,500. The company is divided into Left and Right regions. The Left Region's costs were over budget by $2,000. Determine the amount that the Right Region's costs were over or under budget.