Required: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Actual Costs Spending Flexible Budget Volume Master Budget 385 units Variance Variance 200 units 385 units Direct Material Direct Labor $ 17,100 $ 15,600 27,800 23,600 Variable Overhead 9,850 9,600 Fixed Overhead 13,100 11,800 Total Manufacturing Costs $ 67,850 $ 60,600

Required: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Actual Costs Spending Flexible Budget Volume Master Budget 385 units Variance Variance 200 units 385 units Direct Material Direct Labor $ 17,100 $ 15,600 27,800 23,600 Variable Overhead 9,850 9,600 Fixed Overhead 13,100 11,800 Total Manufacturing Costs $ 67,850 $ 60,600

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter18: Pricing And Profitability Analysis

Section: Chapter Questions

Problem 32P: Sulert, Inc., produces and sells gel-filled ice packs. Sulerts performance report for April follows:...

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PLEASE ANSWER THE FOLLOWING QUESTIONS: Requirements 1. Compute the total sales-volume variance, the total sales-mix variance, and the total sales-quantity variance. (Calculate all variances in terms of contribution margin.) Show results for each product in your computations. 2. What inferences can you draw from the variances computed in requirement 1? Data table Budget for 2020 Selling Variable Cost Cartons Product Price per Carton Sold Kostor $11.00 $ Limba $ 23.00 $ 6.40 16.15 Actual for 2020 Selling Variable Cost Cartons Price per Carton Sold 7.40 138,600 16.35 59,400 132,000 $11.60 S 88,000 $ 24.40 $
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Requirement 2. Prepare a flexible-budget-based variance analysis of the September performance. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label. Enter operating losses with a minus sign or parentheses.) Actual Results Units sold Revenues Variable costs Contribution margin Fixed costs Operating income (loss)
1. What raw materials cost would be included in the company’s planning budget for March? 2. What raw materials cost would be included in the company’s flexible budget for March? 3. What is the materials price variance for March? (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.)
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Devin Company has the following data for their budget and actual performance. Master Budget Variance Master budget Actual Sales 153,163 156,097 ? 69,245 Variable Costs 64,012 ? 13,372 11,551 Fixed Costs What is the operating income master budget variance? If it is an unfavorable variance use a negative sign immediately before your answer. Hint: Remember you'll need to calculate budgeted and actual operating income before you can determine the operating income master budget variance.
AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Revenue Technician wages Mobile lab operating expenses office expenses Advertising expenses Insurance Miscellaneous expenses Fixed Component per Month $ 8,200 $ 4,800 $ 2,300 $ 1,590 $ 2,860 $ 970 Variable Component per Job $ 276 $ 31 $3 Actual Total for February $ 33,130 $ 8,050 $ 8,670 $ 2,540 $1,660 $ 2,860 $ 535 $2 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,800 plus $31 per job, and the actual mobile lab operating expenses for February were $8,670. The company expected to work 130 jobs in February, but actually worked 136 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation's revenue and spending variances and activity variances for February. (Indicate the effect of each variance by selecting "F"…
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