Fanning Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow. Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Required A Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Required B Static Budget Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs $ 179,400 153,400 39,000 371,800 210,000 $ 581,800 Convert the static budget into a flexible budget. Note: Do not round intermediate calculations. S Complete this question by entering your answers in the tabs below. 26,000 kits Flexible Budget 28,600 Kits 0 0 Actual Results 28,600 kits $ 234,840 161,740 46,400 442,980 205,800 $ 648,780 Required B >
Fanning Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow. Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Required A Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Required B Static Budget Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs $ 179,400 153,400 39,000 371,800 210,000 $ 581,800 Convert the static budget into a flexible budget. Note: Do not round intermediate calculations. S Complete this question by entering your answers in the tabs below. 26,000 kits Flexible Budget 28,600 Kits 0 0 Actual Results 28,600 kits $ 234,840 161,740 46,400 442,980 205,800 $ 648,780 Required B >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Fanning Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the
production manager. The production department's static budget and actual results for Year 3 follow.
Production in units
Direct materials.
Direct labor
Variable manufacturing overhead
Total variable costs
Fixed manufacturing overhead
Total manufacturing cost
Required A Required B
Static Budget
Required
a. Convert the static budget into a flexible budget.
b. Calculate the variances.
Production in units
Direct materials
Direct labor
Variable manufacturing overhead
Total variable costs
Fixed manufacturing overhead
Total manufacturing costs
$ 179,400
153,400
39,000
$
371,800
210,000
$ 581,800
Convert the static budget into a flexible budget.
Note: Do not round intermediate calculations.
26,000 kits
Complete this question by entering your answers in the tabs below.
Flexible Budget
28,600 Kits
0
0
Actual Results
28,600 kits
PLA
$ 234,840
161,740
46,400
442,980
205,800
$ 648,780
Required B
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