Cost Control Report For the Month Ended September Liters of blood collected Medical supplies Lab tests Equipment depreciation Rent Utilities Administration Total expense Actual Results 610 $ 7,203 5, 081 2,905 1,050 597 11, 525 $ 28, 361 30 Planning Budget 490 $ 5,880 4,900 2,600 1,050 525 11, 030 $ 25,985 Variances $ 1,323 U 181 U 305 U The following cost formulas were used to construct the planning budget e 72 U 495 U $ 2,376 U The managing director of the blood bank was very unhappy with this report, claiming that his costs were higher than expected due to the emergency on the neighboring islands. He also pointed out that the additional costs had been fully covered by payments from grateful recipients on the other islands. The government official who prepared the report countered that all of the figures had been submitted by the blood bank to the government; he was just pointing out that actual costs were a lot higher than promised in the budget.

Cost Control Report For the Month Ended September Liters of blood collected Medical supplies Lab tests Equipment depreciation Rent Utilities Administration Total expense Actual Results 610 $ 7,203 5, 081 2,905 1,050 597 11, 525 $ 28, 361 30 Planning Budget 490 $ 5,880 4,900 2,600 1,050 525 11, 030 $ 25,985 Variances $ 1,323 U 181 U 305 U The following cost formulas were used to construct the planning budget e 72 U 495 U $ 2,376 U The managing director of the blood bank was very unhappy with this report, claiming that his costs were higher than expected due to the emergency on the neighboring islands. He also pointed out that the additional costs had been fully covered by payments from grateful recipients on the other islands. The government official who prepared the report countered that all of the figures had been submitted by the blood bank to the government; he was just pointing out that actual costs were a lot higher than promised in the budget.

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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Overhead Variances, Two- And Three-Variance Analyses
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