Gundy Company expects to produce 1,200,000 units of Product XX in 2022. Monthly production is expected to range from 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are direct materials $5, direct labor $6, and overhead $8. Budgeted fixed manufacturing costs per unit for depreciation are $2 and for supervision are $1. In March 2022, the company incurs the following costs in producing 100,000 units: direct materials $520,000, direct labor $596,000, and variable overhead $805,000. 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 Variable Costs Direct Materials BA Budget 100000 GUNDY COMPANY Manufacturing Flexible Budget Report TA Actual 100000 $ Difference Favorable Unfavorabl Neither Favor nor Unfavora

Gundy Company expects to produce 1,200,000 units of Product XX in 2022. Monthly production is expected to range from 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are direct materials $5, direct labor $6, and overhead $8. Budgeted fixed manufacturing costs per unit for depreciation are $2 and for supervision are $1. In March 2022, the company incurs the following costs in producing 100,000 units: direct materials $520,000, direct labor $596,000, and variable overhead $805,000. 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 Variable Costs Direct Materials BA Budget 100000 GUNDY COMPANY Manufacturing Flexible Budget Report TA Actual 100000 $ Difference Favorable Unfavorabl Neither Favor nor Unfavora

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Description: Please do not give solution in image format thanku Gundy Company expects to produce 1,200,000 units of Product XX in 2022. Monthly production is expected to rangefrom 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are direct

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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