Homework Answers
Please find below the flexible budget for the month of September 30, 2017 & the workings in the below tables:
Table 1 Flexible budget
| Rachet company | ||||
| Assembly Department | ||||
| Flexible budget report | ||||
| For the month ended September 30, 2017 | ||||
| Budget | Actuals | Difference | Favorable / Unfavourable /Neither Favourable nor Unfavourable | |
| Units | 63000 | 63000 | ||
| Variable costs | $ | $ | $ | |
| Direct material | 54,180 | 54,714 | 534 | UnFavorable |
| Direct labor | 57,960 | 56,628 | (1,332) | Favourable |
| Indirect Material | 27,720 | 28,886 | 1,166 | UnFavorable |
| Indirect Labour | 23,940 | 24,134 | 194 | UnFavorable |
| Utilities | 15,750 | 16,038 | 288 | UnFavorable |
| Maintenance | 6,300 | 6,732 | 432 | UnFavorable |
| Total Variable Cost | 185,850 | 187,132 | 1,282 | UnFavorable |
| Fixed Costs | ||||
| Rent | 10,000 | 10,000 | - | Neither Favourable nor Unfavourable |
| Supervision | 18,200 | 18,200 | - | Neither Favourable nor Unfavourable |
| Depreciation | 5,200 | 5,200 | - | Neither Favourable nor Unfavourable |
| Total fixed Costs | 33,400 | 33,400 | - | Neither Favourable nor Unfavourable |
| Total Costs | 219,250 | 220,532 | 1,282 | UnFavorable |
| Formula | ||||
| Variable Cost per unit | $ 2.97 | Variable costs / Total Units | ||
| Total Cost | Fixed costs + Variable Cost per unit * Total Units | |||
Table 2 Workings
| Workings | As per question | Per unit | Budget Aug | Actuals Aug | Difference |
| Unit | 59000 | 57000 | 57000 | 0 | |
| Direct material | 50740 | 0.86 | 49020 | 49740 | 720 |
| Direct labor | 54280 | 0.92 | 52440 | 51480 | -960 |
| I.Material | 25960 | 0.44 | 25080 | 26260 | 1180 |
| I.Labour | 22420 | 0.38 | 21660 | 21940 | 280 |
| Utilities | 14750 | 0.25 | 14250 | 14580 | 330 |
| Maintenance | 5900 | 0.1 | 5700 | 6120 | 420 |
| 168150 | 170120 | 1970 |
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Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $51,240 $50,140 $1,100 Favorable Direct labor 59,780 56,580 3,200 Favorable Indirect materials 25,620 25,820 200 Unfavorable Indirect labor 21,960 21,560 400 Favorable Utilities 18,300 18,170 130 Favorable...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials 551,200 $50,200 $1,000 Favorable Direct labor 57,500 54,200 3,400 Favorable Indirect materials 26,880 26,980 100 Unfavorable Indirect labor 19,200 18,740 460 Favorable Utilities 16,000 15,830 170 Favorable...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance Total variable Fixed costs Rent Supervision Depreciation Total fixed Total costs $48,380 $47,280 $1,100 Favorable 57,820 54,520 3,300 Favorable...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The Augu...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing CostsBudget Actual Varlable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance $53,760 $52,760 $1,000 Favorable 61,440 58,340 3,100 Favorable 25,600 25,700 100 Unfavorable 19,200 18,730 470 Favorable 22,400 22,240 160 Favorable...
Problem 22-3A Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the...
Problem 22-3A Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report For the Month Ended August 31, 2017 Difference Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance $50,020 $48,920 $1,100 Favorable 54,900 52,000 2,900 Favorable 29,280 29,580 300 Unfavorable 20,740 20,290 450 Favorable 21.350 21,180 170 Favorable 7,320 7,590 270 Unfavorable Total...
Ratchet Company uses budgets in controlling costs. The August 2020 budget report for the company’s Assembling...
Ratchet Company uses budgets in controlling costs. The August 2020 budget report for the company’s Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Manufacturing Costs Budget Actual Favorable Unfavorable Neither Favorable nor Unfavorable Variable costs Direct materials $55,040 $53,940 $1,100 Favorable Direct labor 62,720 59,320 3,400 Favorable Indirect materials 30,720 30,820 100 Unfavorable Indirect labor 21,760 21,260 500 Favorable Utilities 16,000 15,890 110 Favorable Maintenance 11,520 11,650 130 Unfavorable...
Problem 23-03A a, b1, c Ratchet Company uses budgets in controlling costs. The August 2020 budget...
Problem 23-03A a, b1, c Ratchet Company uses budgets in controlling costs. The August 2020 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials $48,380 $47,280 $1,100 Favorable Direct labor 57,820 54,520 3,300 Favorable Indirect materials 26,060 100 Unfavorable 25,960 Indirect labor 450 Favorable 21,240 20,790 140 Favorable Utilities 20,650 20,510...
Ratchet Company uses budgets in controlling costs. The August 2020 budget report for the company's Assembling...
Ratchet Company uses budgets in controlling costs. The August 2020 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manu 9 Costs Budget Actual Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance 49,560 $48,460 $1,100 Favorable 54,280 51,380 2,900 Favorable 28,320 28,420 100 Unfavorablke 18,880 18,420 460 Favorable 17,700 17,570 130 Favorable 9440 9.670 230 Unfavorable 178,180...
*Problem 14-3A (Part Level Submission) Sarasota Company uses budgets in controlling costs. The August 2017 budget...
*Problem 14-3A (Part Level Submission) Sarasota Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. SARASOTA COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Budget Actual Favorable Unfavorable Manufacturing Costs Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance Total variable Fixed costs Rent Supervision Depreciation Total fixed Total costs $53,680 59,780 29,280 19,520 15,250 12,200 189,710 $52,580 56,480 29,380 19,060 15,140...
CALCULATOR PRINTER VERSION BACK NEXT s Problem 22-JA (Part Level Submission) Ratchet Company uses budgets in...
CALCULATOR PRINTER VERSION BACK NEXT s Problem 22-JA (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Unfavorable Neither Favorable Hanufacturing Costs Budget Actual Variable costs Direct materials $50,740 549,740 $1,000 Favorable Direct labor 54,200 $1,400 2,800 Favorable Indirect materials 25,950 26,260 300 Unfavorable Indirect labor 22,420 21,940 480 Favorable 14,750 14,580 170...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $51,240 $50,140 $1,100 Favorable Direct labor 59,780 56,580 3,200 Favorable Indirect materials 25,620 25,820 200 Unfavorable Indirect labor 21,960 21,560 400 Favorable Utilities 18,300 18,170 130 Favorable...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials 551,200 $50,200 $1,000 Favorable Direct labor 57,500 54,200 3,400 Favorable Indirect materials 26,880 26,980 100 Unfavorable Indirect labor 19,200 18,740 460 Favorable Utilities 16,000 15,830 170 Favorable...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance Total variable Fixed costs Rent Supervision Depreciation Total fixed Total costs $48,380 $47,280 $1,100 Favorable 57,820 54,520 3,300 Favorable...
Problem 22-3A (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing CostsBudget Actual Varlable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance $53,760 $52,760 $1,000 Favorable 61,440 58,340 3,100 Favorable 25,600 25,700 100 Unfavorable 19,200 18,730 470 Favorable 22,400 22,240 160 Favorable...
Problem 22-3A Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report For the Month Ended August 31, 2017 Difference Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance $50,020 $48,920 $1,100 Favorable 54,900 52,000 2,900 Favorable 29,280 29,580 300 Unfavorable 20,740 20,290 450 Favorable 21.350 21,180 170 Favorable 7,320 7,590 270 Unfavorable Total...
Problem 23-03A a, b1, c Ratchet Company uses budgets in controlling costs. The August 2020 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials $48,380 $47,280 $1,100 Favorable Direct labor 57,820 54,520 3,300 Favorable Indirect materials 26,060 100 Unfavorable 25,960 Indirect labor 450 Favorable 21,240 20,790 140 Favorable Utilities 20,650 20,510...
Ratchet Company uses budgets in controlling costs. The August 2020 budget report for the company's Assembling Department is as follows. RATCHET COMPANY Budget Report For the Month Ended August 31, 2020 Difference Favorable Unfavorable Neither Favorable nor Unfavorable Manu 9 Costs Budget Actual Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance 49,560 $48,460 $1,100 Favorable 54,280 51,380 2,900 Favorable 28,320 28,420 100 Unfavorablke 18,880 18,420 460 Favorable 17,700 17,570 130 Favorable 9440 9.670 230 Unfavorable 178,180...
*Problem 14-3A (Part Level Submission) Sarasota Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. SARASOTA COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Budget Actual Favorable Unfavorable Manufacturing Costs Variable costs Direct materials Direct labor Indirect materials Indirect labor Utilities Maintenance Total variable Fixed costs Rent Supervision Depreciation Total fixed Total costs $53,680 59,780 29,280 19,520 15,250 12,200 189,710 $52,580 56,480 29,380 19,060 15,140...
CALCULATOR PRINTER VERSION BACK NEXT s Problem 22-JA (Part Level Submission) Ratchet Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Unfavorable Neither Favorable Hanufacturing Costs Budget Actual Variable costs Direct materials $50,740 549,740 $1,000 Favorable Direct labor 54,200 $1,400 2,800 Favorable Indirect materials 25,950 26,260 300 Unfavorable Indirect labor 22,420 21,940 480 Favorable 14,750 14,580 170...
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