Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland CompanyBudget Performance Report—Vice President, ProductionFor the Month Ended November 30 Plant Actual Budget Over Budget Under Budget Eastern Region $556,400 $556,400 $0 Central Region 400,600 396,600 $4,000 Western Region (g) (h) (i) $(j) $(k) $(l) $2,870 Garland CompanyBudget Performance Report—Manager, Western Region PlantFor the Month Ended November 30 Department Actual Budget Over Budget Under Budget Chip Fabrication $(a) $(b) $(c) Electronic Assembly 68,850 69,750 900 Final Assembly 110,850 109,960 $890 $(d) $(e) $(f) $3,760 Garland CompanyBudget Performance Report—Supervisor, Chip FabricationFor the Month Ended November 30 Cost Actual Budget Over Budget Under Budget Factory wages $25,940 $27,760 $1,820 Materials 68,690 68,210 $480 Power and light 4,260 5,070 810 Maintenance 7,510 8,220 710 $106,400 $109,260 $480 $3,340 a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above. a. $ g. $ b. $ h. $ c. $ i. $ d. $ j. $ e. $ k. $ f. $ l. $ b. The budget for the Chip Fabrication Department indicates that the budget overrun was caused by a combination of budget in factory wages, power and light, and maintenance that exceeded a budget in materials.
Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland CompanyBudget Performance Report—Vice President, ProductionFor the Month Ended November 30 Plant Actual Budget Over Budget Under Budget Eastern Region $556,400 $556,400 $0 Central Region 400,600 396,600 $4,000 Western Region (g) (h) (i) $(j) $(k) $(l) $2,870 Garland CompanyBudget Performance Report—Manager, Western Region PlantFor the Month Ended November 30 Department Actual Budget Over Budget Under Budget Chip Fabrication $(a) $(b) $(c) Electronic Assembly 68,850 69,750 900 Final Assembly 110,850 109,960 $890 $(d) $(e) $(f) $3,760 Garland CompanyBudget Performance Report—Supervisor, Chip FabricationFor the Month Ended November 30 Cost Actual Budget Over Budget Under Budget Factory wages $25,940 $27,760 $1,820 Materials 68,690 68,210 $480 Power and light 4,260 5,070 810 Maintenance 7,510 8,220 710 $106,400 $109,260 $480 $3,340 a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above. a. $ g. $ b. $ h. $ c. $ i. $ d. $ j. $ e. $ k. $ f. $ l. $ b. The budget for the Chip Fabrication Department indicates that the budget overrun was caused by a combination of budget in factory wages, power and light, and maintenance that exceeded a budget in materials.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow:
| Garland Company Budget Performance Report—Vice President, Production For the Month Ended November 30 |
||||||||
| Plant | Actual | Budget | Over Budget | Under Budget | ||||
| Eastern Region | $556,400 | $556,400 | $0 | |||||
| Central Region | 400,600 | 396,600 | $4,000 | |||||
| Western Region | (g) | (h) | (i) | |||||
| $(j) | $(k) | $(l) | $2,870 |
| Garland Company Budget Performance Report—Manager, Western Region Plant For the Month Ended November 30 |
||||||||
| Department | Actual | Budget | Over Budget | Under Budget | ||||
| Chip Fabrication | $(a) | $(b) | $(c) | |||||
| Electronic Assembly | 68,850 | 69,750 | 900 | |||||
| Final Assembly | 110,850 | 109,960 | $890 | |||||
| $(d) | $(e) | $(f) | $3,760 |
| Garland Company Budget Performance Report—Supervisor, Chip Fabrication For the Month Ended November 30 |
||||||||
| Cost | Actual | Budget | Over Budget | Under Budget | ||||
| Factory wages | $25,940 | $27,760 | $1,820 | |||||
| Materials | 68,690 | 68,210 | $480 | |||||
| Power and light | 4,260 | 5,070 | 810 | |||||
| Maintenance | 7,510 | 8,220 | 710 | |||||
| $106,400 | $109,260 | $480 | $3,340 |
a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above.
| a. $ | g. $ |
| b. $ | h. $ |
| c. $ | i. $ |
| d. $ | j. $ |
| e. $ | k. $ |
| f. $ | l. $ |
b. The budget for the Chip Fabrication Department indicates that the budget overrun was caused by a combination of budget in factory wages, power and light, and maintenance that exceeded a budget in materials.
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