Question

Based on the information given to you? please answer the following graph (question 7)

Perry Company Budget Report Month ending May 31, 20xx F or F or Planning Budget Variance Flexible Budget Variance Actual Results :-- -- Reference 6 Units: 8 Sales Revenue 10 Cost of Goods Sold: 11 Direct Material 12 Direct Labor 13 Variable Overhead 14 Fixed Overhead 15 Total Cost of Goods Sold 16 17 Gross Profit Selling & Admin Expense 20 21 Net Operating Income 23 24 Check Work: 25 Material Variance 26 Labor Variance 27 Variable Overhead Variance (a) Variance Column (4) (b) Units Sold Variance per unit Should equal HW7 Question &, Requirement 2, third column on CONNECT 30

Answer 1

Perry Company
Budget Report
Month ending May 31, 20xx
	Planning budget (1)	Variance (2) = (1) - (3)	F (or) U	Flexible budget (3)	Variance (4) = (3) - (5)	F (or) U	Actual results (5)
Units	10,800			12,000			12,000
Sales revenue	$486,000	54,000	F	$540,000	0		$540,000
Cost of Goods Sold:
Direct material	$34,992	$3,888	U	$38,880	$7,320	U	$46,200
Direct Labor	$184,680	$20,520	U	$205,200	$4,560	U	$209,760
Variable overhead	$62,208	$6,912	U	$69,120	$720	F	$68,400
Fixed overhead	$85,000	0	U	$85,000	$3,000	U	$88,000
Total Cost Of Goods Sold	$366,880	$31,320	U	$398,200	$14,160	U	$412,360
Gross profit	$119,120	$22,680	F	$141,800	$14,160	U	$127,640
Selling and administation expenses	$35,959	$3,551	U	$39,510	$12,490	U	$52,000
Net Operating Income	$83,161	$19,129	F	$102,290	$26,650	U	$75,640