Performance Report Scafidi Company provided the following information for last year. Master Budget Actual Data Budgeted...
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Performance Report
Scafidi Company provided the following information for last year.
Master Budget Actual Data Budgeted production 4,400 4,200 units Direct materials: 8 kilograms @ 0.6 per kilogram $6,800 Direct labour: 0.4 hr. @ $15.50 per hour 30,500 VOH: 0.4 hr. @ $2.70 4,200 FOH: Materials handling, $6,600 6,300 Depreciation, $2,700 2,700 Required:
1. Calculate the budgeted amounts for each cost category listed above for the 4,400 budgeted units, then give the total below.
Direct materials $ Direct labour $ Variable overhead $ Fixed overhead: Materials handling $ Depreciation $ Total $ 2. Prepare a performance report using a budget based on expected production. In the variance type column, type "F" for favourable and "U" for unfavourable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column. (Note: Be sure to use capital letters.)
Scafidi Company Performance Report Actual Budgeted Variance Variance Type (F, U, N) Units produced Direct materials $ $ $ Direct labour Variable overhead Fixed overhead: Materials handling Depreciation Total $ $ $
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Performance Report
Scafidi Company provided the following information for last
year.
Master Budget
Actual Data
Budgeted...
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Direct labour (2 hours at $12
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overhead
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Fixed manufacturing
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Jay Levitt Company budgeted the following cost standards for
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Direct materials (2 kg of
plastic at $6 per kilogram)
$12.00
Direct labour (2 hours at $12
per hour)
24.00
Variable manufacturing
overhead
11.90
Fixed manufacturing
overhead
6.25
Total standard cost per
unit
$54.15
Actual costs for producing 2,740 units were as follows:
Direct materials used
5,560
kg
Direct materials purchased
(6,780 kg)
$40,002
Direct labour (6,880 hours)
$67,424
Variable manufacturing
costs
$32,600
Fixed manufacturing costs
$17,600
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