E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 4,100, 6,100, and 7,100 units. Note: Round your intermediate calculations to 2 decimal places. Master Budget Flexible Budget Flexible Budget Flexible Budget (6,100 Units) (7,100 Units) (5,100 Units) (4,100 Units) Direct materials $ 1,020 Direct labor 2,550 Variable manufacturing overhead 1,530 Fixed manufacturing overhead 17,800 Total manufacturing cost $ 22,900

E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 4,100, 6,100, and 7,100 units. Note: Round your intermediate calculations to 2 decimal places. Master Budget Flexible Budget Flexible Budget Flexible Budget (6,100 Units) (7,100 Units) (5,100 Units) (4,100 Units) Direct materials $ 1,020 Direct labor 2,550 Variable manufacturing overhead 1,530 Fixed manufacturing overhead 17,800 Total manufacturing cost $ 22,900

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 7CE: Refer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced...

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Q.Prepare a cost of goods sold budget for January 2018.
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Howard Cooper, the president of Finch Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 1: Standard rate and variable costs Service rate per hour Labor cost Overhead cost Selling, general, and administrative cost. Expected fixed costs Facility maintenance Selling, general, and administrative Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 28,000 hours of services in Year 1. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Finch charges customers $57 per hour, the firm can achieve 31,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same consultant also suggests that if the firm…
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Barlow Company manufactures book bags and has provided the following information for June 2018: E (Click the icon to view the information.) Requirements 1. Prepare a flexible budget performance report. (Hint: You will need to calculate the flexible budget amounts for 10,000 units.) 2. As the company owner, which employees would you praise or criticize after you analyze this performance report? Requirement 1. Prepare a flexible budget performance report. (Hint. You will need to calculate the flexible budget amounts for 10,000 units.) (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F)/Unfavorable (U) input blank. Enter all amounts as positive values.) Barlow Company Flexible Budget Performance Report For the Month Ended June 30, 2018 1 2 3 4 - X Data Table (1) - (3) (3) - (5) Budget Flexible Sales Amounts Actual Budget Flexible Volume Static Static Budget Actual Results Per Unit Results Variance Budget Variance Budget Units 10,000 11,000 Units Sales Revenue…