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W 15 the TCAIUI Vuugu 11-2A. Using Flexible Budget exible Budgets The following summary data are...
Using Flexible Budgets The following summary data are from a performance report for Hyland Company for June, during whic...
Using Flexible Budgets The following summary data are from a
performance report for Hyland Company for June, during which 9,600
units were produced. The budget reflects the company’s normal
capacity of 10,000 units.
Actual Costs (9,600 Units) Budget (10,000 Units) Variances Direct material ... Direct labor Variable overhead $102,600 207,900 73,800 54.300 5 $438,600 $105,000 210,000 72,000 54,000 $441,000 [$2,400 F] [2,100 F] 1,800 U 300 U [$2,400 F] Fixed overhead............................... .................. Total ...... a. What is the general implication...
S.Evergreen Co. provided the following budget and actual data for the year: Sales (30,000 units) $1,290,000...
S.Evergreen Co. provided the following budget and actual data for the year: Sales (30,000 units) $1,290,000 Cost of Sales $210,000 Direct materials Direct labor 540,000 Variable overhead 120,000 Fixed overhead Gross Profit 944,000 $346,000 74,000 Operating expenses: Fixed $10,000 31,000 Variable 21,000 $315,000 Income from operations The company's actual activity for the year: Sales (29,000 units) Cost of Sales $1,264,400 $208,800 Direct materials 536,500 Direct labor 101,500 Variable overhead 75,000 921,800 Fixed overhead $342,600 Gross Profit Operating expenses: $10,000 Fixed...
Need help with the following accounting problem. Problem 23-2A Preparation and analysis of a flexible budget...
Need help with the following accounting problem.
Problem 23-2A Preparation and analysis of a flexible budget performance report LO P1, P2, A1 Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 17,000 units. $3,400,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $1,105,000 Direct labor 255,000 Machinery repairs (variable cost) 34,000 Depreciation-Plant equipment (straight-line) 300,000 Utilities ($17,000...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing over...
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.00 Indirect materials 0.70 Utilities 0.40 Fixed overhead costs per month are Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000–10,000 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Fixed...
Requirement 1: Complete the following flexible budget performance report using the numbers from the Business Assignment...
Requirement 1: Complete the following flexible budget performance report using the numbers from the Business Assignment 2 Instructions file. The Board Company Flexible Budget Performance Report for the month ended August 31 Budgeted units of production: Actual units of production: Units of production variance в (A-B) F/U (A-C) FIU Α Actual Costs Incurred for 9.480 units Flexible Budget Based on 9.480 units Flexible Budget Variance Static Budget Based on 9.000 units Static Budget Variances Variable Costs: Direct materials Direct labor...
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).) Arte e Costs Actual Costs 285 units Spending Variance Sending Flexible Budget 285 units Blocklep Volume Variance volume Master Budget 200 units $ | $ Direct Material Direct Labor Variable...
Ray Company provided the following excerpts from its Production Department’s flexible budget performance report. (Round "rate...
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report. (Round
"rate per hour" answers to 2 decimal places. Indicate the effect of
each variance by selecting "F" for favorable, "U" for unfavorable,
and "None" for no effect (i.e., zero variance). Input all amounts
as positive values.)
Required:
Complete the Production Department’s Flexible Budget Performance
Report.
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report. (Round
"rate per hour" answers to...
Problem 23-2A Preparation and analysis of a flexible budget performance report LO P1, P2, A1 Phoenix...
Problem 23-2A Preparation and analysis of a flexible budget performance report LO P1, P2, A1 Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 18,000 units. $ 4,050,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $1,080,000 Direct labor 180,000 Machinery repairs (variable cost) 72,000 Depreciation-Plant equipment (straight-line) 330,000 Utilities ($54,000 is variable) 204,000 Plant management salaries...
Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate...
Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Required: Complete the Production Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Spending Variances Budget...
Sunshine Company provided the following excerpts from its Production Department’s flexible budget performance report. (Round "rate...
Sunshine Company provided the following excerpts from its Production Department’s flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).) Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Results Spending Variances Flexible Budget Activity Variances Planning Budget Labor-hours (q) 9,550 9,070 Direct labor ( q) $169,205 $167,125 Indirect...
Using Flexible Budgets The following summary data are from a
performance report for Hyland Company for June, during which 9,600
units were produced. The budget reflects the company’s normal
capacity of 10,000 units.
Actual Costs (9,600 Units) Budget (10,000 Units) Variances Direct material ... Direct labor Variable overhead $102,600 207,900 73,800 54.300 5 $438,600 $105,000 210,000 72,000 54,000 $441,000 [$2,400 F] [2,100 F] 1,800 U 300 U [$2,400 F] Fixed overhead............................... .................. Total ...... a. What is the general implication...
S.Evergreen Co. provided the following budget and actual data for the year: Sales (30,000 units) $1,290,000 Cost of Sales $210,000 Direct materials Direct labor 540,000 Variable overhead 120,000 Fixed overhead Gross Profit 944,000 $346,000 74,000 Operating expenses: Fixed $10,000 31,000 Variable 21,000 $315,000 Income from operations The company's actual activity for the year: Sales (29,000 units) Cost of Sales $1,264,400 $208,800 Direct materials 536,500 Direct labor 101,500 Variable overhead 75,000 921,800 Fixed overhead $342,600 Gross Profit Operating expenses: $10,000 Fixed...
Need help with the following accounting problem.
Problem 23-2A Preparation and analysis of a flexible budget performance report LO P1, P2, A1 Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 17,000 units. $3,400,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $1,105,000 Direct labor 255,000 Machinery repairs (variable cost) 34,000 Depreciation-Plant equipment (straight-line) 300,000 Utilities ($17,000...
Requirement 1: Complete the following flexible budget performance report using the numbers from the Business Assignment 2 Instructions file. The Board Company Flexible Budget Performance Report for the month ended August 31 Budgeted units of production: Actual units of production: Units of production variance в (A-B) F/U (A-C) FIU Α Actual Costs Incurred for 9.480 units Flexible Budget Based on 9.480 units Flexible Budget Variance Static Budget Based on 9.000 units Static Budget Variances Variable Costs: Direct materials Direct labor...
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).) Arte e Costs Actual Costs 285 units Spending Variance Sending Flexible Budget 285 units Blocklep Volume Variance volume Master Budget 200 units $ | $ Direct Material Direct Labor Variable...
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report. (Round
"rate per hour" answers to 2 decimal places. Indicate the effect of
each variance by selecting "F" for favorable, "U" for unfavorable,
and "None" for no effect (i.e., zero variance). Input all amounts
as positive values.)
Required:
Complete the Production Department’s Flexible Budget Performance
Report.
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report. (Round
"rate per hour" answers to...
Problem 23-2A Preparation and analysis of a flexible budget performance report LO P1, P2, A1 Phoenix Company's 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 18,000 units. $ 4,050,000 PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017 Sales Cost of goods sold Direct materials $1,080,000 Direct labor 180,000 Machinery repairs (variable cost) 72,000 Depreciation-Plant equipment (straight-line) 330,000 Utilities ($54,000 is variable) 204,000 Plant management salaries...
Ray Company provided the following excerpts from its Production Department's flexible budget performance report. (Round "rate per hour" answers to 2 decimal places. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (.e., zero variance). Input all amounts as positive values.) Required: Complete the Production Department's Flexible Budget Performance Report. Ray Company Production Department Flexible Budget Performance Report For the Month Ended August 31 Actual Flexible Results Spending Variances Budget...
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