from 84,000 to 120.000 units. Budgeted Gundy Company expects to produce 1.305.600 units of Product XX in 2020, Monthly production is expected to range direct materials $4, direct labor $7, and overhead for depreciation are $6 and for supervision are $1. ring costs per unit $10. Budgeted fixed manufacturing c In March 2020, the company incurs the following costs in producing 102.000 units direct materials $436.000, direct labor $709,000 and variable overhead $1,028,000. Actual fixed costs were equal to budgeted fixed costs. Prepare a flexible budget report for March (List variable costs before fixed costs) Depreciation Direct Labor Direct Materials Fixed Costs Overhead Supervision Total Costs Total Fixed Costs Total Variable Costs Variable Costs Units Produced Budget GUNDY COMPANY Manufacturing Flexible Budget Report For the Month Ended March 31, 2020 Actual Difference Favorable Unfavorable Neither Favorable nor Unfavorable
from 84,000 to 120.000 units. Budgeted Gundy Company expects to produce 1.305.600 units of Product XX in 2020, Monthly production is expected to range direct materials $4, direct labor $7, and overhead for depreciation are $6 and for supervision are $1. ring costs per unit $10. Budgeted fixed manufacturing c In March 2020, the company incurs the following costs in producing 102.000 units direct materials $436.000, direct labor $709,000 and variable overhead $1,028,000. Actual fixed costs were equal to budgeted fixed costs. Prepare a flexible budget report for March (List variable costs before fixed costs) Depreciation Direct Labor Direct Materials Fixed Costs Overhead Supervision Total Costs Total Fixed Costs Total Variable Costs Variable Costs Units Produced Budget GUNDY COMPANY Manufacturing Flexible Budget Report For the Month Ended March 31, 2020 Actual Difference Favorable Unfavorable Neither Favorable nor Unfavorable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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Please help me with required 1 and 2 and don't provide Excel
Transcribed Image Text:Gundy Company expects to produce 1.305.600 units of Product XX in 2020, Monthly production is expected to range
from 84,000 to 120.000 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $7, and overhead
$10. Budgeted fixed manufacturing costs unit for depreciation are $6 and for supervision are $1.
In March 2020, the company incurs the following costs in producing 102.000 units: direct materials $438.000, direct labor $709,000
and variable overhead $1,028,000. Actual foxed costs were equal to budgeted fixed costs.
Prepare a flexible budget report for March (List variable costs before fixed costs)
Depreciation
Direct Labor
Direct Materials
Fixed Costs
Overhead
Supervision
Total Costs
Total Fixed Costs
Total Variable Costs
Variable Costs
Units Produced
Budget
GUNDY COMPANY
Manufacturing Flexible Budget Report
For the Month Ended March 31, 2020
Actual
Difference
Favorable
Unfavorable
Neither Favorable
nor Unfavorable
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