Riverview Hospital bases its budgets on patient-visits. The hospital's static budgetfor September appears below:Budgeted number of patient-visits.............. 10,000Budgeted variable overhead costs:Supplies (@$2.00 per patient-visit).... $20,000Laundry (@$1.15 per patient-visit).........11,50031,500Total variable overhead costBudgeted fixed overhead costs:SalariesOccupancy costs....Total fixed overhead cost.Total budgeted overhead cost........…...Actual results for the month were:Actual number of patient-visits.Supplies........Laundry.Salaries.Occupancy costs.45,00022,50067,500$99.00010,500$26,000$11,500$46,400$21,400Required:Prepare a flexible budget performance report in good form.

A budget is a forecast of revenue and expenses for a certain future period of time that is generally…

Answered: Riverview Hospital bases its budgets on…

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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Subject : Accounting Classic Hospital bases its budgets on patient-visits. The hospital's static budget forSeptember appears below: Budgeted number of patient-visits ............. 9,8000Budgeted variable overhead costs:Supplies (@ $2.20 per patient-visit) ....... $21,780Laundry (@ $1.10 per patient-visit) ....... 10,890Total variable overhead cost ...................... 32,670Budgeted fixed overhead costs:Salaries.................................................... 30,710Occupancy costs ..................................... 12,000Total fixed overhead cost........................... 42,710 Total budgeted overhead cost .................... $99,000 Actual results for the month were:Actual number of patient-visits.................. 11,000Supplies...................................................... $28,040Laundry ...................................................... $11,640Salaries ....................................................... $32,480Occupancy…
e. Production, Sales, Income Statement Clear my choice Which of the following statements is false? Select one: Oa. The budgeted variable selling and administrative expense is calculated by multiplying the budgeted unit sales by the variable selling and administrative expense per unit. Ob. The master budget consists of a number of separate but interdependent budgets. Oc.A continuous or perpetual budget is a 12-month budget that rolls forward one month (or quarter) as the current month (or quarter) is completed. O d. The direct labor budget begins with the required production in units from the production budget. Oe. Control involves developing goals and preparing various budgets to achieve those goals. Next page Tables- Jump to.. e to seardh
Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate................................ $6.00 per direct-labor hourStandard quantity of direct labor ............................... 2 hours per unit of outputBudgeted fixed overhead ..................................................... $100,000Budgeted output ............................................................................................... 25,000 units Actual results for April are as follows: Actual output ..................................................................................... 20,000 unitsActual variable overhead ............................................................... $320,000Actual fixed overhead ...................................................................... $97,000Actual direct labor ............................................................................. 50,000 hours Use the variance formulas to compute the following variances.…
1) Determine the variances between the planned and actual budgets 2.)Determine what variance is due to change in volume and what variance is due to change inrates.
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Hammersley hotels bases its budget on guest-days. The hotel's static budget for April appears below:Budgeted number of guest-days.........................8,700Budgeted variable overhead costs: Supplies...............................................................$ 60,900Laundry.................................................................. 33,060Total variable overhead cost ...............................93,960Budgeted fixed overhead costs: Wages and salaries................................................. 80,910Occupancy costs..................................................... 38,280Total fixed overhead cost..................................... 119,190Total budgeted overhead cost........................... $213,150 The total overhead cost at an activity level of 9,700 guest-days per month should be: Select one: a. $223,950 b. $224,920 c. $213,150 d. $237,650 e. $225,875
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Xuereb Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 35 skeins of wool at a cost of $6 per skein and 0.8 gallons of dye at a cost of $10 per gallon. All other materials are indirect. At the beginning of the year Xuereb has an inventory of 466,000 skeins of wool at a cost of $1,165,000 and 4,400 gallons of dye at a cost of $27,280. Target ending inventory of wool and dye is zero. Xuereb uses the FIFO inventory cost flow method. A (Click the icon to view the additional information.) There is no direct manufacturing labor cost for dyeing. Xuereb budgets 50 direct manufacturing labor-hours to weave a rug at a budgeted rate of $17 per hour. It budgets 0.2 machine-hours to dye each skein in the dyeing process. E (Click the icon to view the budgeted overhead costs.) Read the requirements. Requirement 1. Prepare a direct material usage budget in both units and dollars. More Info Begin with the physical units portion, then…
1. What is the total budgeted indirect cost at the Elmore store in January 2018? What is the total budgeted cost of each activity at the Elmore store for January 2018? What is the budgeted indirect cost of each product category for January 2018? 2. Which product category has the largest fraction of total budgeted indirect costs? 3. Given your answer in requirement 2, what advantage does Maclin's Corner gain by using an activity-based approach to budgeting over, say, allocating indirect costs to products based on cost of goods sold?
Please do not give solution in image format thanku
Spree Party Lights overhead expenses are: Indirect material, pounds per unit Indirect material, cost per pound Indirect labor hours Indirect labor rate per hour Variable maintenance per unit Variable utilities per unit Supervisor salaries Maintenance salaries Insurance Depreciation Units to Produce Variable Costs Indirect Material Indirect Labor Maintenance Prepare a manufacturing overhead budget if the number of units to produce for January, February, and March are 2,400, 3,100, and 2,800, respectively. Spree Party Lights Manufacturing Overhead Budget For the Quarter Ending January - March January February 2,400 3,100 Utilities Total Variable Manufacturing Costs Fixed Costs 0.30 Supervisory Salaries Maintenance Salaries Insurance Depreciation Total Fixed Manufacturing Coats Total Manufacturing Overhead $2 $16.50 $0.75 $0.20 $11,000 $9,000 $3,000 $1,600 1,440 30,500 1.1900 11,000 5,000 3,000 1,500 24,600 67,020 1,860 51,150 620 53,955 11,000 9,000 3,000 1,000 24,400 10,355 March 2,1800…

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