Homework Answers
Solution:
| Assembling Department | ||||
| Flexible budget report | ||||
| For the month ended August 31, 2017 | ||||
| Particulars | Budget | Actual cost | Difference | Favorable / Unfavorable / Neither favorable nor unfavorable |
| Units of Production | 57000 | 57000 | ||
| Variable overhead costs: | ||||
| Direct materials | $49,020.00 | $49,740.00 | $720.00 | Unfavorable |
| Direct Labor | $52,440.00 | $51,480.00 | $960.00 | Favorable |
| Indirect Materials | $25,080.00 | $26,260.00 | $1,180.00 | Unfavorable |
| Indirect labor | $21,660.00 | $21,940.00 | $280.00 | Unfavorable |
| Utilities | $14,250.00 | $14,580.00 | $330.00 | Unfavorable |
| Maintenance | $5,700.00 | $6,120.00 | $420.00 | Unfavorable |
| Total Variable | $1,68,150.00 | $1,70,120.00 | $1,970.00 | Unfavorable |
| Fixed costs: | ||||
| Rent | $10,000.00 | $10,000.00 | $0.00 | Neither Favorable nor Unfavorable |
| Supervision | $18,200.00 | $18,200.00 | $0.00 | Neither Favorable nor Unfavorable |
| Depreciation | $5,200.00 | $5,200.00 | $0.00 | Neither Favorable nor Unfavorable |
| Total Fixed | $33,400.00 | $33,400.00 | $0.00 | Neither Favorable nor Unfavorable |
| Total Costs | $2,01,550.00 | $2,03,520.00 | $1,970.00 | Unfavorable |
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Pronghorn Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling...
Pronghorn Company uses budgets in controlling costs. The August 2017 budget report for the company’s Assembling...
Pronghorn Company uses budgets in controlling costs. The August
2017 budget report for the company’s Assembling Department is as
follows.
PRONGHORN COMPANY
Budget Report
Assembling Department
For the Month Ended August 31, 2017
Difference
Manufacturing Costs
Budget
Actual
Favorable
Unfavorable
Variable costs
Direct materials
$50,740
$49,740
$1,000
Favorable
Direct labor
54,280
51,480
2,800
Favorable
Indirect materials
25,960
26,260
300
Unfavorable
Indirect labor
22,420
21,940
480
Favorable
Utilities
14,750
14,580
170
Favorable
Maintenance
5,900
6,120
220
Unfavorable
Total variable
174,050
170,120...
CALCULATOR PRINTER VERSI Problem 10-3A a, b1, c (Part Level Submission) (Video) Ratchet Company uses budgets...
CALCULATOR PRINTER VERSI Problem 10-3A a, b1, c (Part Level Submission) (Video) 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 $50,740 $49,740 $1,000 Favorable Direct labor 54,280 51,480 2,800 Favorable Indirect materials 25,960 26,260 300 Unfavorable Indirect labor 22,420 21,940...
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 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 follow RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual her Unfavorable Variable costs Direct materials $50,740 549,740 $1,000 Favorable Direct labor 54,280 51,480 2,800 Favorable Indirect materials 25,950 26,260 300 Unfavorable Indirect labor 22.420 21,940 480 Favorable Utilities 14,750 14,580 170 Favorable...
CALCULATOR PRINTER VERSION Problem 10-3A a, b1, C (Part Level Submission) (Video) Ratchet Company uses budgets...
CALCULATOR PRINTER VERSION Problem 10-3A a, b1, C (Part Level Submission) (Video) 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 Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $50,740 $49,740 $1,000 Favorable Direct labor 54,280 51,480 2,800 Favorable Indirect materials 25,960 26,260 300 Unfavorable Indirect labor 22,420 21,940...
Novak Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling...
Novak Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. NOVAK 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 $55,900 59,800 26,000 19,500 16,250 9,100 186,550 $54,900 56,500 26,100 19,080 16,090 9,200 181,870 $1,000 Favorable 3,300 Favorable 100 Unfavorable 420 Favorable 160 Favorable 100 Unfavorable 4,680 Favorable Maintenance...
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 uses budgets and controlling costs The August 2017 budget report for the company assembling...
ratchet company uses budgets and controlling costs The
August 2017 budget report for the company assembling department is
as follows
The monthly budget amounts in the report were based on
an expected production of $60,000 units per month or $720,000 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 58,000 units...
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 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...
Pronghorn Company uses budgets in controlling costs. The August
2017 budget report for the company’s Assembling Department is as
follows.
PRONGHORN COMPANY
Budget Report
Assembling Department
For the Month Ended August 31, 2017
Difference
Manufacturing Costs
Budget
Actual
Favorable
Unfavorable
Variable costs
Direct materials
$50,740
$49,740
$1,000
Favorable
Direct labor
54,280
51,480
2,800
Favorable
Indirect materials
25,960
26,260
300
Unfavorable
Indirect labor
22,420
21,940
480
Favorable
Utilities
14,750
14,580
170
Favorable
Maintenance
5,900
6,120
220
Unfavorable
Total variable
174,050
170,120...
CALCULATOR PRINTER VERSI Problem 10-3A a, b1, c (Part Level Submission) (Video) 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 $50,740 $49,740 $1,000 Favorable Direct labor 54,280 51,480 2,800 Favorable Indirect materials 25,960 26,260 300 Unfavorable Indirect labor 22,420 21,940...
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 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 follow RATCHET COMPANY Budget Report Assembling Department For the Month Ended August 31, 2017 Difference Favorable Unfavorable Neither Favorable Manufacturing Costs Budget Actual her Unfavorable Variable costs Direct materials $50,740 549,740 $1,000 Favorable Direct labor 54,280 51,480 2,800 Favorable Indirect materials 25,950 26,260 300 Unfavorable Indirect labor 22.420 21,940 480 Favorable Utilities 14,750 14,580 170 Favorable...
CALCULATOR PRINTER VERSION Problem 10-3A a, b1, C (Part Level Submission) (Video) 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 Manufacturing Costs Budget Actual nor Unfavorable Variable costs Direct materials $50,740 $49,740 $1,000 Favorable Direct labor 54,280 51,480 2,800 Favorable Indirect materials 25,960 26,260 300 Unfavorable Indirect labor 22,420 21,940...
Novak Company uses budgets in controlling costs. The August 2017 budget report for the company's Assembling Department is as follows. NOVAK 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 $55,900 59,800 26,000 19,500 16,250 9,100 186,550 $54,900 56,500 26,100 19,080 16,090 9,200 181,870 $1,000 Favorable 3,300 Favorable 100 Unfavorable 420 Favorable 160 Favorable 100 Unfavorable 4,680 Favorable Maintenance...
ratchet company uses budgets and controlling costs The
August 2017 budget report for the company assembling department is
as follows
The monthly budget amounts in the report were based on
an expected production of $60,000 units per month or $720,000 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 58,000 units...
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 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...
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