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Homework Answers
Flexible budget performance report
| Actual results | Spending variance | Flexible budget | volume variance | Master budget | |
| Direct material | 16100 | 4705 F | 20805 | 6205 U | 14600 |
| Direct labor | 26800 | 5405 F | 32205 | 9605 U | 22600 |
| Variable overhead | 8850 | 3405 F | 12255 | 3655 U | 8600 |
| Fixed overhead | 12100 | 800 U | 11300 | 0 None | 11300 |
| Total manufacturing cost | 63850 | 12715 F | 76565 | 19465 U | 57100 |
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E9-3 (Algo) Preparing a Flexible Budget Performance Report [LO 9-2] Gleason Guitars produces acoustic guitars. The...
E9-3 (Algo) Preparing a Flexible Budget Performance Report [LO 9-2] Gleason Guitars produces acoustic guitars. The...
E9-3 (Algo) Preparing a Flexible Budget Performance Report [LO 9-2] Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Actual Costs 285 units Spending Variance Flexible Budget 285 units Volume Variance Master Budget 200 units | $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 16,100...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) onts Actual Costs 305 units Spending Variance Flexible Budget 305 units Volume Variance Master Budget 200 units $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 16,3001 27.000 9,050 12.300 64. 6501 14,800 22,800 8,800 11.400 57...
Gleason Guitars produces acoustic guitars. The table belowcontains budget and actual information for the month...
Gleason Guitars produces acoustic guitars. The table below
contains budget and actual information for the month of June:(Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance).)
leason Guitars produces acoustic guitars. The table below contains budget and actual Information for the month...
leason Guitars produces acoustic guitars. The table below contains budget and actual Information for the month of June: (Indicate he effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Actual Costs 385 units Spending Variance Flexible Budget 385 units Volume Variance Master Budget 200 units $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 17,100 27,800 9,850 13,100 67,850 15,600 23,600 9,600 11,800 60,600 $
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles....
E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5.000. 7,000 and 8,000 units. (Round your intermediate calculations to 2 decimal places.) Master Budget Flexible Budget Flexible Budget Flexible Budget 16,000 Units) (5,000 Units) (7.000 Units) (8.000 Units) Direct materials Direct labor Variable manufacturing overhead Fored manufacturing overhead Total manufacturing cost...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $333,750 budgeted expenses include $293,700 variable expenses and $40,050 fixed expenses. Actual expenses include $46,350 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Actual Fixed Budget Results 8,900 11,300 $445,000 $ 565,000 333,750 395,500 $111,250 $ 169,500 $120,000 F 61,750 U $ 58,250 F es Prepare a flexible budget performance report showing any variances...
Exercise 08-4 Preparing a flexible budget performance report LO P1 0.85 points Xion Co. budgets a...
Exercise 08-4 Preparing a flexible budget performance report LO P1 0.85 points Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $270,000. During June, the company produced and sold 10,800 units and incurred actual variable costs of $351,000 and actual fixed costs of $285,000. Actual sales for June were $885,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately....
M9-5 (Algo) Preparing a Flexible Budget [LO 9-2] Evanson Company expects to produce 540,000 units of...
M9-5 (Algo) Preparing a Flexible Budget [LO 9-2] Evanson Company expects to produce 540,000 units of their product during the year. Monthly production is expected to range from 40,000 to 80,000 units. The company has budgeted manufacturing costs per unit to be as follows: Direct materials $14 Direct labor 15 Variable manufacturing overhead Fixed manufacturing overhead 16 Prepare a flexible manufacturing budget using 20,000 unit increments. Evanson Company Monthly Flexible Manufacturing Budget Activity level Finished units Variable costs Direct materials...
E9-3 (Algo) Preparing a Flexible Budget Performance Report [LO 9-2] Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Actual Costs 285 units Spending Variance Flexible Budget 285 units Volume Variance Master Budget 200 units | $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 16,100...
Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance).) onts Actual Costs 305 units Spending Variance Flexible Budget 305 units Volume Variance Master Budget 200 units $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 16,3001 27.000 9,050 12.300 64. 6501 14,800 22,800 8,800 11.400 57...
Gleason Guitars produces acoustic guitars. The table below
contains budget and actual information for the month of June:(Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance).)
leason Guitars produces acoustic guitars. The table below contains budget and actual Information for the month of June: (Indicate he effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Actual Costs 385 units Spending Variance Flexible Budget 385 units Volume Variance Master Budget 200 units $ Direct Material Direct Labor Variable Overhead Fixed Overhead Total Manufacturing Costs 17,100 27,800 9,850 13,100 67,850 15,600 23,600 9,600 11,800 60,600 $
E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 5.000. 7,000 and 8,000 units. (Round your intermediate calculations to 2 decimal places.) Master Budget Flexible Budget Flexible Budget Flexible Budget 16,000 Units) (5,000 Units) (7.000 Units) (8.000 Units) Direct materials Direct labor Variable manufacturing overhead Fored manufacturing overhead Total manufacturing cost...
Exercise 21-3 Preparing a flexible budget performance report LO P1 Solitaire Company's fixed budget performance report for June follows. The $333,750 budgeted expenses include $293,700 variable expenses and $40,050 fixed expenses. Actual expenses include $46,350 fixed expenses. Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Actual Fixed Budget Results 8,900 11,300 $445,000 $ 565,000 333,750 395,500 $111,250 $ 169,500 $120,000 F 61,750 U $ 58,250 F es Prepare a flexible budget performance report showing any variances...
Exercise 08-4 Preparing a flexible budget performance report LO P1 0.85 points Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $270,000. During June, the company produced and sold 10,800 units and incurred actual variable costs of $351,000 and actual fixed costs of $285,000. Actual sales for June were $885,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately....
M9-5 (Algo) Preparing a Flexible Budget [LO 9-2] Evanson Company expects to produce 540,000 units of their product during the year. Monthly production is expected to range from 40,000 to 80,000 units. The company has budgeted manufacturing costs per unit to be as follows: Direct materials $14 Direct labor 15 Variable manufacturing overhead Fixed manufacturing overhead 16 Prepare a flexible manufacturing budget using 20,000 unit increments. Evanson Company Monthly Flexible Manufacturing Budget Activity level Finished units Variable costs Direct materials...
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