The master budget at Monroe Manufacturing last period called for sales of 42,800 units at $50 each. The costs were estimated to be $34 variable per unit and $532,000 fixed. During the period, actual production and actual sales were 45,800 units. The selling price was $49 per unit. Variable costs were $36 per unit. Actual fixed costs were $523,000. Required: Prepare a flexible budget for Monroe Manufacturing. Monroe Manufacturing Flexible Budget $ $

The master budget at Monroe Manufacturing last period called for sales of 42,800 units at $50 each. The costs were estimated to be $34 variable per unit and $532,000 fixed. During the period, actual production and actual sales were 45,800 units. The selling price was $49 per unit. Variable costs were $36 per unit. Actual fixed costs were $523,000. Required: Prepare a flexible budget for Monroe Manufacturing. Monroe Manufacturing Flexible Budget $ $

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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ABC company prepared a master budget based on 100 budgeted sales units with a $100 sales price per unit, a variable cost per unit of $50, and $2,000 in total fixed cost. The actual sales quantity was120 units, the actual sales price per unit was $90, and the actual total fixed cost was $2,500. The operating income on its planning the master budget is: $2,800 $4,000$3,000 $3,500
Tillman Manufacturing Co.'s static budget at 32,000 units of production includes $112,000 for direct labor and $37,000 for direct materials. Total fixed costs are $68,000. What are the total costs under a static budget?
Miller and Sons' static budget for 9,800 units of production includes $39,300 for direct materials, $49,300 for direct labor, variable utilities of $6,300, and supervisor salaries of $15,300. A flexible budget for 13,500 units of production would show Do not round interim calculations. Round your final answer to the nearest dollar. a.direct materials of $54,138, direct labor of $67,913, utilities of $8,679, and supervisor salaries of $15,300 b.the same cost structure in total c.total variable costs of $110,200 d.direct materials of $54,138, direct labor of $67,913, utilities of $8,679, and supervisor salaries of $18,360
Sheridan, Inc.'s static budget at 3,000 units of production includes $13,800 for direct labor, $4,800 for utilities (variable), and total fixed costs of $25,800. Actual production and sales for the year was 9,000 units, with an actual cost of $83,600.Determine if Sheridan is over or under budget. Sheridan is select an option budget by $
Prepare a flexible budget for Western.
Using the provided budgeted information for production of 10,000 and 15,000 units, prepare a flexible budget for 17,000 units. Production Expense A Expense B Expense C Expense A Expense B Expense C Total expenses Expenses Production and expense data 10,000 units $15,000 21,000 43,000 Flexible budget for 17,000 units 15,000 units 17,000 units $22,500 21,000 43,000
Jase Manufacturing Co.'s static budget at 7,700 units of production includes $30,800 for direct labor and $3,080 for electric power. Total fixed costs are $41,500. At 10,700 units of production, a flexible budget would show a.variable costs of $47,080 and $41,500 of fixed costs b.variable costs of $33,880 and $41,500 c.variable and fixed costs totaling $75,380 d.variable costs of $47,080 and $57,669 of fixed costs
Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $3 per unit, direct labor of $4 per unit, and manufacturing overhead of $2 per unit. Fixed costs are $30,968. What would be the budgeted amounts for 26,397 units?
The master budget at Cherrylawn Corporation at the beginning of the year was based on sales of 279,000 units with revenues of $3,348,000. Total variable costs were budgeted at $1,953,000 and fixed costs at $966,000. During the period, actual production and actual sales were 255,800 units. The actual revenues were $3,446,500. Actual variable costs were $6.10 per unit. Actual fixed costs were $996,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Less: Variable costs Contribution margin Less: Fixed costs Operating profits $ $ Actual 0 0 Manufacturing Variances Cherrylawn Corporation Profit Variance Analysis Sales Price Variance Flexible Budget $ $ 0 Sales Activity Variance Master Budget $ $ 0 0
Miller and Sons' static budget for 10,500 units of production includes $43,700 for direct materials, $53,400 for direct labor, variable utilities of $8,000, and supervisor salaries of $15,700. A flexible budget for 12,900 units of production would show Round your final answer to the nearest dollar. Do not round interim calculations. Oa. total variable costs of $120,800 Ob. the same cost structure in total Oc. direct materials of $53,689, direct labor of S65,606, utilities of $9,829, and supervisor salaries of $18,840 Od. direct materials of $53,689, direct labor of $65,606, utilities of $9,829, and supervisor salaries of $15,700
Vishu
Blossom, Inc. prepared the following master budget items for July: Production and sales Variable manufacturing costs: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing costs Total manufacturing costs Production and Sales Variable Manufacturing Costs: Direct Materials Direct Labor Variable Manufacturing Overhead During July, Blossom actually sold 42,000 units. Prepare a flexible budget for Blossom based on actual sales. (Do not round your intermediate calculations.) Fixed Manufacturing Costs Total Manufacturing Costs 36,000 units $36,000 $ 86,400 $ 72,000 $110,000 $304,400 units