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oduction in units rect materials. rect labor. ariable manufacturing overhead ptal variable costs ixed manufacturing overhead otal manufacturing cost Static Budget 26,000 kits $161,200 135,200. 39,000 335,400 208,000 $543,400 quired Convert the static budget into a flexible budget. Actual Resulta 28,600 kita $215,820 142,820 45,200 403,840 202,700 $606,540

oduction in units rect materials. rect labor. ariable manufacturing overhead ptal variable costs ixed manufacturing overhead otal manufacturing cost Static Budget 26,000 kits $161,200 135,200. 39,000 335,400 208,000 $543,400 quired Convert the static budget into a flexible budget. Actual Resulta 28,600 kita $215,820 142,820 45,200 403,840 202,700 $606,540

FINANCIAL ACCOUNTING
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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Rundle 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 Static Budget 26,000 kits $161,200 135,200 39,000 335,400 208,000 $543,400 Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Actual Results 28,600 kits $215,820 142,820 45,200 403,840 202,700 $606,540
Transcribed Image Text:Rundle 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 Static Budget 26,000 kits $161,200 135,200 39,000 335,400 208,000 $543,400 Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Actual Results 28,600 kits $215,820 142,820 45,200 403,840 202,700 $606,540
Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Complete this question by entering your answers in the tabs below. Required A Required B. Convert the static budget into a flexible budget. (Do not round intermediate calculations.) Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Required A Required B Flexible Budget Kits Calculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for for no effect (i.e., zero variance).) Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Variances
Transcribed Image Text:Required a. Convert the static budget into a flexible budget. b. Calculate the variances. Complete this question by entering your answers in the tabs below. Required A Required B. Convert the static budget into a flexible budget. (Do not round intermediate calculations.) Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Required A Required B Flexible Budget Kits Calculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for for no effect (i.e., zero variance).) Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Variances
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