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report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 15,000 $ 10,500 37,800 108, 200 82,300 107,000 $ 345,800 Master Budget 20,000 $ 11,100 40,500 129,000 Variances Required: Prepare a flexible budget performance report for the month of March. $ 600 F 2,700 F 20,800 F 77,000 107,000 $364,600 $ 18,800 F 5,300 U

report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 15,000 $ 10,500 37,800 108, 200 82,300 107,000 $ 345,800 Master Budget 20,000 $ 11,100 40,500 129,000 Variances Required: Prepare a flexible budget performance report for the month of March. $ 600 F 2,700 F 20,800 F 77,000 107,000 $364,600 $ 18,800 F 5,300 U

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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A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 15,000 $ 10,500 37,800 108, 200 82,300 107,000 $ 345,800 Master Budget 20,000 $ 11,100 40,500 129,000 77,000 107,000 $364,600 Required: Prepare a flexible budget performance report for the month of March. Variances $ 600 F 2,700 F 20,800 F 5,300 U 0 $ 18,800 F
Transcribed Image Text:A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation Total cost Actual Results 15,000 $ 10,500 37,800 108, 200 82,300 107,000 $ 345,800 Master Budget 20,000 $ 11,100 40,500 129,000 77,000 107,000 $364,600 Required: Prepare a flexible budget performance report for the month of March. Variances $ 600 F 2,700 F 20,800 F 5,300 U 0 $ 18,800 F
Required 3 Complete the new performance report for the quarter, based on Flexible Budget Performance approach. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Machine-hours (q) Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total Actual Results 15,000 $ 10,500 37,800 108,200 82,300 107,000 $ 345,800 Assembly Department Flexible Budget Performance Report For the Month Ended March 31 Spending Variance < Required 3 Flexible Budget Volume Variance next > Master Budget 20,000 11,100 40,500 129.000 77,000 107.000 $364,600 $
Transcribed Image Text:Required 3 Complete the new performance report for the quarter, based on Flexible Budget Performance approach. (Do not round your intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Machine-hours (q) Supplies Scrap Indirect materials Wages and salaries Equipment depreciation Total Actual Results 15,000 $ 10,500 37,800 108,200 82,300 107,000 $ 345,800 Assembly Department Flexible Budget Performance Report For the Month Ended March 31 Spending Variance < Required 3 Flexible Budget Volume Variance next > Master Budget 20,000 11,100 40,500 129.000 77,000 107.000 $364,600 $
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