A report that compares the budgeted costs for the job to the actual costs incurred and indicates the variances is a:
Group of answer choices
A.Cost analysis.
B.Job cost sheet.
C.Budget analysis.
D.Cost performance report.
A report that compares the budgeted costs for the job to the actual costs incurred and indicates the variances is a Cost performance report. |
A Cost performance report is used to compare budgeted and actual costs for the job. |
The variances identified by Cost performance report are analyzed and necessary actions are taken for control purposes. |
Option D Cost performance report is correct |
A report that compares the budgeted costs for the job to the actual costs incurred and...
4. A flexible budget performance report compares the differences between: a. Actual performance and budgeted performance based on actual sales volume. b. Actual performance over several periods. c. Budgeted performance over several periods. d. Actual performance and budgeted performance based on budgeted sales volume. e. Actual performance and standard costs at the budgeted sales volume.
Which of the following terms is useful because it compares "actual" revenues and expenses against "budgeted" revenues and expenses? A. reponsibility center B. performance report C. Capital budget D. sensitvity analysis
A flexible budget performance report compares the differences between: Help Save & Exit Actual performance and budgeted performance based on actual sales volume. Actual performance over several periods Budgeted performance over several periods Actual performance and budgeted performance based on budgeted sales volume Actual performance and standard costs at the budgeted sales volume We were unable to transcribe this image$29,000 unfavorable $29,000 favorable $22,500 unfavorable. $52.500 favorable. $52,500 unfavorable Identify the situation below that will result in a favorable variance...
A report prepared by a government official comparing actual costs to budgeted costs for the blood bank appears below. Continued support from the government depends on the blood bank's ability to demonstrate control over its costs. St. Lucia Blood Bank Cost Control Report For the Month Ended September 30 Actual Planning Results Budget Variances Liters of blood 590 470 collected Medical supplies $ 7,473 $ 6,110 $1,363 U Lab tests 5,071 4,888 183 U Equipment 3,115 2,800 315 U depreciation...
Rice Corporation is evaluating its performance by comparing the budgeted overhead costs and actual overhead costs as follows: Variance 3,600 Performance Report Manufacturing Overhead Statie Budget Comparison First Quarter, 2006 Statie Budget Actual Units produced 21.400 25.000 Variable costs: Indirect materials (budgeted at $2 per unit) $ 42,800 $ 49,000 Indirect labor (budgeted at $1.50 per unit) 32,100 38,000 Power and light (budgeted at $1 per unit) 21.400 24,600 Total variable costs 196300 111.600 Fixed costs: Supervisory salaries 90,000 90,200...
Performance Report Based on Budgeted and Actual Levels of Production Bowling Company budgeted the following amounts: Variable costs of production: Direct materials 3 pounds @ $0.60 per pound Direct labor 0.5 hr. @ $16.00 per hour VOH 0.5 hr. @ $2.20 FOH: Materials handling $6,200 Depreciation $2,600 At the end of the year, Bowling had the following actual costs for production of 3,800 units: Direct materials $6,800 Direct labor 30,500 VOH 4,200 FOH: Materials handling 6,300 Depreciation $2,600 Required: 1....
1) To apply the budgeted overhead costs to a job, the budgeted overhead rate is multiplied by the _____. A) actual production in units B) expected production in units C) actual amount of cost driver used by the job D) expected amount of cost driver by the job 2) The section of the annual report that explains major changes in the income statement, changes in liquidity and capital resources and the impact of inflation is called the ________. A) notes...
1. The Company's actual manufacturing costs for the month of May totaled $144,000, while the budgeted manufacturing costs were $162,000. Comparison of the budgeted costs with actual amounts: a is not significant unless the budgeted and actual figures are based upon the same level of production. b Demonstrates that the Manufacturing Department operated very efficiently during May. C Indicates that production cost per unit was 10% below budgeted cost per unit. d Indicates that the Company produced only 90% of...
Manufacturing overhead costs allocated to a job amounted to $496,000. The actual manufacturing costs incurred during the year were $530,000. Overhead costs have been underallocated. O True False
Freeway Driving School offers driving lessons. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. The school performed 175 lessons but had planned on only 170 for the month of June. Management has provided the below revenue and cost standards and the Revenue and Expense Fixed element Variable element per lesson per month Instructor Wages Fuel Facility Expenses Freeway Driving School Income Statement...