Homework Answers
| Calculation of Variable cost at 65000 units:- | |||||
| Budget Cost for Aug 2017 | Budgeted Units for Aug 2017 | Cost Per Unit | Budgeted Cost for 65000 units | ||
| a | b | c | d=b/c | e = d*65000 | |
| Variable costs | |||||
| Direct Materials | $ 53,680 | 61000 | $ 0.88 | $ 57,200 | |
| Direct labor | $ 59,780 | 61000 | $ 0.98 | $ 63,700 | |
| Indirect materials | $ 29,280 | 61000 | $ 0.48 | $ 31,200 | |
| Indirect labor | $ 19,520 | 61000 | $ 0.32 | $ 20,800 | |
| Utilities | $ 15,250 | 61000 | $ 0.25 | $ 16,250 | |
| Maintenance | $ 12,200 | 61000 | $ 0.20 | $ 13,000 | |
| Total varialbe costs | $ 189,710 | $ 3.11 | $ 202,150 | ||
| Note: | Actual costs for 65000 units in September is not given. We have assumed actual cost of August as of September also. | ||||
| Flexible Budget Report | |||||
| SARASOTA COMPANY | |||||
| Assembling Department | |||||
| Flexible Budget Report | |||||
| For the Month Ended September 30, 2017 | |||||
| Budget | Actual Costs | Difference | Favorable or Unfavorable Neither Favorable nor Unfavorable | ||
| Units | 65,000 | 65,000 | |||
| Variable costs | |||||
| Direct Materials | $57,200 | $52,580 | $4,620 | Favorable | |
| Direct labor | $63,700 | $56,480 | $7,220 | Favorable | |
| Indirect materials | $31,200 | $29,380 | $1,820 | Favorable | |
| Indirect labor | $20,800 | $19,060 | $1,740 | Favorable | |
| Utilities | $16,250 | $15,140 | $1,110 | Favorable | |
| Maintenance | $13,000 | $12,530 | $470 | Favorable | |
| a | Total varialbe costs | $202,150 | $185,170 | $16,980 | Favorable |
| Fixed costs | |||||
| Rent | $11,700 | $11,700 | $0 | Neither Favorable nor Unfavorable | |
| Supervision | $18,500 | $18,500 | $0 | Neither Favorable nor Unfavorable | |
| Depreciation | $7,300 | $7,300 | $0 | Neither Favorable nor Unfavorable | |
| b | Total Fixed costs | $37,500 | $37,500 | $0 | Neither Favorable nor Unfavorable |
| c | Total Expenses (a+b) | $239,650 | $222,670 | $16,980 | Favorable |
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flexible budget report?? We were unable to transcribe this imageThe monthly budget amounts in the report were ba...
b. In September, 65,000 units were produced. Prepare the budget report using flexible budget data, assuming...
b. In September, 65,000 units were produced. Prepare the budget
report using flexible budget data, assuming (1) each variable cost
was 10 % higher than its actual cost in August, and (2) fixed costs
were the same in September as in August. (List variable
costs before fixed costs.)
*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...
*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...
Problem 14-3A (Part Level Submission) Sarasota Conmpany uses budgets in controlling costs. The August 20117 budget...
Problem 14-3A (Part Level Submission) Sarasota Conmpany uses budgets in controlling costs. The August 20117 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 Favorable Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials $53,680 $52,580 1,100 Favorable 59,780 3,300 Favorable Direct labar 56,480 Indirect materials 29,280 29,380 100 Unfavorable Indirrct labor 19,520 19,060 4G0 Favorable Utilities 15,250 15,140 110 Favorable 12,200 12,530 330 Unfavorable...
The monthly budget amounts in the report were based on an expected production of 63,000 units per...
We were unable to transcribe this imageThe monthly budget amounts in the report were based on an expected production of 63,000 units per month or 756,000 units per year. The Assembling Department manager is pleased with the report and expects a raise, or at least praise for a job well done. The company president, however, is unhappy with the results for August because only 61,000 units were produced (a) State the total monthly budgeted cost formula. (Round cost per unit...
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...
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...
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...
RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable...
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 Maintenance 6,100 6,450 350 Unfavorable Total variable 183,000 178,720 4,280 Favorable Fixed costs Rent 10,100 10,100 -0- Neither Favorable nor Unfavorable Supervision 18,000 18,000 -0-...
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...
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 c...
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 matrials$51,600 $50,600 $1,000 Favorable Direct labor Indirect materials 28,800 29,000 200 Unfavorable Indirect labor Utilities Maintenance 56,400 53,600 2,800 Favorable 22,800 22,380 420 Favorable 15,000 14,860 140 Favorable 8,400 8,740340 Unfavorable Total variable 165,0o 183,000 179,180 3,820 Favorable Fixed costs Rent Supervision Depreciation 12,200 12,200 0-Neither Favorable nor Unfavorable 16,900 16,900 0 Neither...
b. In September, 65,000 units were produced. Prepare the budget
report using flexible budget data, assuming (1) each variable cost
was 10 % higher than its actual cost in August, and (2) fixed costs
were the same in September as in August. (List variable
costs before fixed costs.)
*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...
*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...
Problem 14-3A (Part Level Submission) Sarasota Conmpany uses budgets in controlling costs. The August 20117 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 Favorable Unfavorable Manufacturing Costs Budget Actual Variable costs Direct materials $53,680 $52,580 1,100 Favorable 59,780 3,300 Favorable Direct labar 56,480 Indirect materials 29,280 29,380 100 Unfavorable Indirrct labor 19,520 19,060 4G0 Favorable Utilities 15,250 15,140 110 Favorable 12,200 12,530 330 Unfavorable...
We were unable to transcribe this imageThe monthly budget amounts in the report were based on an expected production of 63,000 units per month or 756,000 units per year. The Assembling Department manager is pleased with the report and expects a raise, or at least praise for a job well done. The company president, however, is unhappy with the results for August because only 61,000 units were produced (a) State the total monthly budgeted cost formula. (Round cost per unit...
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 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...
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...
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 Maintenance 6,100 6,450 350 Unfavorable Total variable 183,000 178,720 4,280 Favorable Fixed costs Rent 10,100 10,100 -0- Neither Favorable nor Unfavorable Supervision 18,000 18,000 -0-...
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 matrials$51,600 $50,600 $1,000 Favorable Direct labor Indirect materials 28,800 29,000 200 Unfavorable Indirect labor Utilities Maintenance 56,400 53,600 2,800 Favorable 22,800 22,380 420 Favorable 15,000 14,860 140 Favorable 8,400 8,740340 Unfavorable Total variable 165,0o 183,000 179,180 3,820 Favorable Fixed costs Rent Supervision Depreciation 12,200 12,200 0-Neither Favorable nor Unfavorable 16,900 16,900 0 Neither...
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