StaticActualBudgetBudgetVarianceMachine-hours39,92036,600Direct labour wages$ 86,100$ 84,180$1,920 USuppliesMaintenance24,22021,9602,260 U145,300142,1603,140 UUtilities17.62016,960660 USupervisionDepreciationTotal41,20041,20083,20083,200$397,640$389,660$ 7,980 U

You have provided a table with budgeted and actual figures for various expenses related to a…

Answered: Static Actual Budget Budget Variance…

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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Master Actual Budget Sales (units) 800,000 780,000 Sales Revenue 6,000,000.47 5,790,000.59 Variable Costs Blank flash drives 1,800,000.24 1,800,000.44 Direct labor 420,000.55 495,000.94 Variable overhead 780,000.24 717,000.34 Variable marketing & admin 600,000.48 615,000.75 Total Variable Costs 3,600,001.51 3,627,002.47 Contribution Margin 2,399,998.96 2,162,998.12 Fixed Costs Manufacturing overhead 1,164,000.68 1,164,000.68 Marketing 360,000.38 360,000.38 Administrative 195,000.92 195,000.92 Total Fixed Costs 1,719,001.98 1,719,001.98 Profit 680,996.98 443,996.14 Calculate a flexible budget and…
Help Save & Exit AA company provided the following information from its flexible budget performance report: Actual Results 52 Flexible Budget Master Budget Trips (q) 2. Expenses: Maintenance expense ($4,000 + $88.00g) $8,440 $8,400 What is the spending variance for maintenance expense? Multiple Choice $136 F $136 U $176 U Nex 11 of 23 < Prev
Budgeted variable factory overhead costs: $354,000 Budgeted production in units: 60,000 units Budgeted time: 2 direct labor hours per unit Allocation base: direct labor hours Actual production in units: 58,600 units Actual variable factory overhead costs incurred: $338,500 Actual direct labor hours used: 119,000 hours CALCULATE VARIABLE FACTORY OVERHEAD ALLOCATED: Allocated: $__________ CALCULATE VARIABLE FACTORY OVERHEAD SPENDING (PRICE) VARIANCE :…
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Question Content Area Given the following information, determine the activity rate (rounded to the nearest cent) for setups. Activity Total Activity-Base Usage Budgeted Activity Cost Setups 10,000 $57,200 Inspections 23,400 $149,700 Assembly (dlh) 73,800 $394,500 a. $5.61 b. $5.35 c. $6.40 d. $5.72
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EXERCISES Exercise 1 Jenner Company developed its annual manufacturing overhead budget for its master budget for 2008 as follows: Expected annual operating capacity Variable overhead costs 120,000 Direct Labor Hours Indirect labon Indirect materials $420,000 90,000 30,000 _540,000 Factory supplies Total variable Fixed overhead costs Depreciation Supervision Property taxes Total fixed 180,000 120,000 96,000 396,000 $936,000 Total costs The relevant range for monthly activity is expected to be between 8,000 and 12,000 direct labor hours . Instructions Prepare a flexible budget for a monthly activity level of 8,000 and 9,000 direct labor hours. Exercise 2 Fagan Company uses a flexible budget for manufacturing overhead based on machine hours. Variable manufacturing overhead costs per machine hour are as follows: Indirect labor $5.00 Indirect materials Maintenance Utilities 2.50 50 30 Fixed overhead costs per month are: Supervision Insurance $600 200 Property taxes Depreciation 300 900 The…
Example 1 Budgeted Data: Support Departments Janitor $415,000 12,000 VC or VMOH base: sq. ft. base: employees 25 (2) the step-down method, and Personnel $150,000 20,000 (3) the reciprocal method. 4 Operating Departments Mixing $130,000 10,000 75 Canning Determine the amount of Janitor and Personnel department costs that would be allocated to the Mixing and Canning departments' budgets using (1) the direct method $170,000 70,000 50
Question 1 Not complete Direct material Direct labor Variable overhead Fixed overhead Total Using Flexible Budgets The following summary data are from a performance report for Sterling Company for May, during which 9,600 units were produced. The budget reflects the company's normal capacity of 10,000 units. Actual Cost Budget 9,600 10,000 units units $ $136,800 $140,000 $(3,200) Favorable Type Marked out of 6.25 Direct material $ Direct labor Variable overhead Fixed overhead Totals PFlag question $ Variances a. Prepare a new performance report using flexible budgeting. Round all amounts to the nearest dollar. Variance Actual Costs 277,200 280,000 (2,800) Favorable 98,400 96,000 2,400 Unfavorable 72,400 72,000 400 Unfavorable $584,800 $588,000 $(3,200) $ 0 $ Flexible Budget $ 0 $ $ b. Which of the two performance reports should Sterling Company management use to measure the company's operating efficiency in May? ◆ 0 Type ♦ + + ◆

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Static Actual Budget Budget Variance Machine-hours 39,920 36,600 Direct labour wages $ 86,100 $ 84,180 $1,920 U Supplies Maintenance 24,220 21,960 2,260 U 145,300 142,160 3,140 U Utilities 17.620 16,960 660 U Supervision Depreciation Total 41,200 41,200 83,200 83,200 $397,640 $389,660 $ 7,980 U