The following data pertain to the Waikiki Sands Hotel for the month of March.Flexible Budget March(in thousands)*2$Actual Results March(in thousands)*$ 7001,857(100)(732)(143)(92)(114)Banquets and CateringRestaurantsKitchen staff wagesFoodPaper productsVariable overheadFixed overhead6851,870(99)(725)(146)(89)(104)"Numbers without parentheses denote profit; numbers with parentheses denote expenses.Required:Based on Exhibit 12-4, prepare a March performance report and use the same data for year-to-date columns in your report. (Indicatethe effect of each variance by selecting "F" for favorable, "U" for unfavorable. Select "None" and enter "0" for no effect (i.e.., zerovariance). Enter your answers in thousands.)WAIKIKI SANDS HOTELPerformance Reports for March(In Thousands)Flexible BudgetActual ResultsVarianceMarchYear to DateMarchYear to DateMarchYear to DateFood and Beverage DepartmentBanquets & CateringRestaurantsKitchenTotal profitKitchenPrev1 of 3Next >MacBook Pro#33$4%&2578.WEYOPFGKCBMOSISOS' Flexible Budget*Actual ResultsVarianceAlols3Year to Date SAFebruaryYear to DateFebruaryYear to DateFebruaryCompany;► $ 30,660$ 64,567$ 30,716$64,570$56 F$ 3 FMaui Division$ 18,400$ 38,620$ 18,470$38.630$70 F$10 FOahu Division12.26025,94712,24625,94014 U7 UTotal profit$ 30,660$ 64,567$ 30,716$64.570$56 F$ 3FOahu DivisionWaimea Beach Resort$ 6,050$ 12,700$ 6,060$12,740$10 F$40 FDiamond Head LodgeWaikiki Sands Hotel2,1004,5002,0504,43050 U70 U4,1108,7474,1368,77026 F23 FTotal profit$ 12,260$ 25,947$ 12,246$25,940$14 U$ 7UWaikiki Sands HotelGrounds and Maintenance$ (45)$ 90)$ (44)$ (90)(90)$ 1FHousekeeping and Custodial(40)(90)(41)1URecreational Services408541881 F$ 3FHospitalityFood and Beverage2,8006,0002,8406,03040 F30 F1.3552,8421,3402,83215 U10 UTotal profitL $ 4,110$ 8,747$ 4,136$ 8,770$26 F$23 FFood and Beverage DepartmentBanquets and Catering$ 600$ 1,260605$ 1,265$ 5F$ 5FRestaurants1,7853,7501,7603,74025 U10 UKitchen(1,030)(2,168)(1,025)(2.173)5 F5UTotal profit$ 1,355$ 2,842$ 1,340$ 2,832$15 U$10UKitchenKitchen staff wagesFood$ (80)(675)$ (168)(1,420)(250)(150(180)$ (169)(1,421)(248)(154)(181)24(78)$ 2F$ 1U(678)(115)(71)3U1UPaper productsVariable overhead(120)5 F2F(70)(85)1 U4 UFixed overhead(83)2FTotal expense$1,030)$ (2,168$ (1,025)$2,173)$ 5F$ 5U*Numbers without parentheses denote profit; numbers with parentheses denote expenses; numbers in thousands.tF denotes favorable variance; U denotes unfavorable variance.MacBook Pro%23%244%&589WEYGH.KNMOSISOB8F.

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Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter23: Flexible Budgeting (flexbud)

Section: Chapter Questions

Problem 4R

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Raw materials Wages and salaries Utilities Facility rent Insurance Miscellaneous Total expense Net operating income
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Budget Performance Report for a Cost Center Sneed Industries Company sells vehicle parts to manufacturers of heavy construction equipment. The Crane Division is organized as a cost center. The budget for the Crane Division for the month ended August 31, 20Y6, is as follows (in thousands): Customer service salaries $ 375,000 Insurance and property taxes 75,000 Distribution salaries 712,500 Marketing salaries 450,000 Engineer salaries 1,110,000 Warehouse wages 420,000 Equipment depreciation 232,500 Total $ 3,375,000 During August, the costs incurred in the Crane Division were as follows: Customer service salaries $ 515,200 Insurance and property taxes 68,740 Distribution salaries 657,300 Marketing salaries 519,400 Engineer salaries 1,033,550 Warehouse wages 384,860 Equipment depreciation 217,000 Total $ 3,396,050 Required: 1. Prepare a budget performance report for the director of the Crane Division for the month of August. Enter amounts in…
Professional labor cost budget Based on the data in Exercise 13-5 and assuming that the average compensation per hour for staff is $36 and for partners is $300. prepare a professional labor cost budget for Day & Spieth, CPAs, for the year ending March 31. 20Y6. Use the following column headings:
Mesa Aquatics, Inc. estimated direct labor hours as 1,900 in quarter 1, 2,000 in quarter 2.2,200 in quarter 3, and 1,800 in quarter 4. a sales and administration budget using the information provided.
Budget performance reports for cost centers Partially completed budget performance reports for Runquist Company, a manufacturer of air conditioners, are provided below. a.Complete the budget performance reports by determining the correct amounts for the lettered spaces. b.Compose a memo to Jeff Kitchens, president of Meridian Company, explaining the performance of the Production Division for June.
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Spree Party Lights overhead expenses are: Prepare a manufacturing overhead budget if the number of units to produce for January,February, and March are 2,500. 3,000, and 2.700, respectively.
A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
Budget performance report for a cost center Sneed Industries Company sells vehicle parts to manufacturers of heavy construction equipment. The Crane Division is organized as a cost center. The budget for the Crane Division for the month ended August 31, 20Y6, is as follows (in thousands): During August, the costs incurred in the Crane Division were as follows: Instructions Prepare a budget performance report for the director of the Crane Division for the month of August.
Budget performance report for a cost center Sneed Industries Company sells vehicle parts to manufacturers of heavy construction equipment. The Crane Division is organized as a cost center. The budget for the Crane Division for the month ended August 31, 20Y6, is as follows (in thousands): During August, the costs incurred in the Crane Division were as follows: Instructions For which costs might the director be expected to request supplemental reports?
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