JDC Engineering Co. provided the following information for their business year ending June 30th, 2021. Plant ManagerVP of ManufacturingPresidentControllable ExpensesBudgetActualBudgetActualBudgetActualOffice expense7,3709,77012,76017,03023,11017,490Printing19,95017,290 Paging2,4102,110 Binding4,6504,940 Purchasing 23,94027,390 Receiving 11,38014,130 Inspection 18,79016,830 VP of Marketing 197,230171,530Controller 138,680121,110Treasurer 97,00072,870VP of Personnel 48,17071,360 Prepare the responsibility accounting reports for the three levels of management--plant manager, vice president of manufacturing, and president. Office expensePrintingPagingBindingTotal Controllable CostOffice expensePurchasingReceivingInspectionPlant ManagerTotal ControllableCostOffice expenseVP of MarketingControllerTreasurerVP of PersonnelPlant Manager - Responsibility ReportBudgetActualVP of ManufacturingTotal ControllableCost7,370 ✓19,950 ✓2,4104,650 ✓34,380✔12,76023,490 X11,380✓18,790✔VP of Manufacturing - Responsibility ReportBudgetActual34,380✔100,800 X23,110✔197,230✔138,680 ✓97,000 ✓48,170✔9,770 ✓100,800 X17,290✔2,110✔604,990 X4,940✔34,110✔President - Responsibility ReportBudget17,030 ✓27,390 ✓14,130✓16,830✔34,110✔109,490 ✓Actual17,490 ✓171,530 ✓121,110✔72,870✔71,360✓109,490 ✓563,850✔Variance-2,400 ✓2,660✔300 ✓-290 ✓270✔-4,270 ✓-3,900 XVariance-2,750✔1,960✔270✓-8,690 X5,620 ✓25,700✔Variance17,750 X24,130 ✓-23,190✔U-8,690 XFv41,140 XU vU vU vU vFvFvU vF✓F vF vF vU vU vF v

Variance arises when the actual costs differ from the standard costs. The results are favorable…

Answered: JDC Engineering Co. provided the…

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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JDC Engineering Co. provided the following information for their business year ending June 30th, 2021.

	Plant Manager	VP of Manufacturing	President
Controllable Expenses	Budget	Actual	Budget	Actual	Budget	Actual
Office expense	7,370	9,770	12,760	17,030	23,110	17,490
Printing	19,950	17,290
Paging	2,410	2,110
Binding	4,650	4,940
Purchasing			23,940	27,390
Receiving			11,380	14,130
Inspection			18,790	16,830
VP of Marketing					197,230	171,530
Controller					138,680	121,110
Treasurer					97,000	72,870
VP of Personnel					48,170	71,360

Prepare the responsibility accounting reports for the three levels of management--plant manager, vice president of manufacturing, and president.

Office expense
Printing
Paging
Binding
Total Controllable Cost
Office expense
Purchasing
Receiving
Inspection
Plant Manager
Total Controllable
Cost
Office expense
VP of Marketing
Controller
Treasurer
VP of Personnel
Plant Manager - Responsibility Report
Budget
Actual
VP of Manufacturing
Total Controllable
Cost
7,370 ✓
19,950 ✓
2,410
4,650 ✓
34,380✔
12,760
23,490 X
11,380✓
18,790✔
VP of Manufacturing - Responsibility Report
Budget
Actual
34,380✔
100,800 X
23,110✔
197,230✔
138,680 ✓
97,000 ✓
48,170✔
9,770 ✓
100,800 X
17,290✔
2,110✔
604,990 X
4,940✔
34,110✔
President - Responsibility Report
Budget
17,030 ✓
27,390 ✓
14,130✓
16,830✔
34,110✔
109,490 ✓
Actual
17,490 ✓
171,530 ✓
121,110✔
72,870✔
71,360✓
109,490 ✓
563,850✔
Variance
-2,400 ✓
2,660✔
300 ✓
-290 ✓
270✔
-4,270 ✓
-3,900 X
Variance
-2,750✔
1,960✔
270✓
-8,690 X
5,620 ✓
25,700✔
Variance
17,750 X
24,130 ✓
-23,190✔
U
-8,690 X
Fv
41,140 X
U v
U v
U v
U v
Fv
Fv
U v
F✓
F v
F v
F v
U v
U v
F v

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