Gleason Guitars produces acoustic guitars. The table below
contains budget and actual information for the month...
Gleason Guitars produces acoustic guitars. The table below
contains budget and actual information for the month of June:
(Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance).)
Actual costs 245 units spending variance flexible
budget 245 units volume variance Master budget 200
units
direct material 15,700 14,200
direct labor 26400 22,200
variable overhead 8450 8,200
fixed overhead 11,700 11,100
total manufacturing overhead 62250 55,700
Odessa, Inc., reports the following information concerning
operations for the most recent month:
Actual (based...
Odessa, Inc., reports the following information concerning
operations for the most recent month:
Actual (based on actual of 585 units)
Master Budget (based on budgeted 650 units)
Sales revenue
$
102,870
$
110,500
Less
Manufacturing costs
Direct labor
14,172
14,950
Materials
13,650
15,600
Variable overhead
9,930
11,700
Marketing
5,495
6,175
Administrative
5,200
5,200
Total variable costs
$
48,447
$
53,625
Contribution margin
$
54,423
$
56,875
Fixed costs
Manufacturing
5,070
5,200
Marketing
10,788
10,400
Administrative
10,356
10,400
Total fixed...
A company has prepared a master budget for the month of
February when they expected to...
A company has prepared a master budget for the month of
February when they expected to sell 4,000 units. They actually sold
3,750 units. Calculate the flexible budget and the spending and
volume variances for February. Identify if the variances are
favorable or unfavorable.
Actual Costs 3,750 Units
Spending Variances
Flexible Budget
_______Units
Volume Variances
Master Budget
4,000
Units
Manufacturing Costs:
Direct Materials
$14,500
$16,000
Direct Labor
38,500
40,000
Variable Manufacturing Overhead
12,000
14,000
Fixed Manufacturing Overhead
20,000
21,000
Total...
Find the values of the missing items. Assume that the actual
sales volume equals actual production...
Find the values of the missing items. Assume that the actual
sales volume equals actual production volume. (There are no
inventory level changes.) (Do not round intermediate
calculations. Indicate the effect of each variance by selecting "F"
for favorable, or "U" for unfavorable. If there is no effect, do
not select either option.)
Reported Income Statement (2500 units)
Manufacturing Variance
Marketing and Admin Variance
Sales price variance
Flexible budget (2500 units)
Sales Activity Variance
Master Budget (2700 units)
Sales Revenue...
The master budget at
Western Company last period called for sales of 225,000 units at $9...
The master budget at
Western Company last period called for sales of 225,000 units at $9
each. The costs were estimated to be $3.75 variable per unit and
$225,000 fixed. During the period, actual production and actual
sales were 230,000 units. The selling price was $9.10 per unit.
Variable costs were $4.50 per unit. Actual fixed costs were
$225,000.
Required:
Prepare a sales
activity variance analysis. (Indicate the effect of each
variance by selecting "F" for favorable, or "U"...
Required information
[The following information applies to the questions
displayed below.]
Brodrick Company expects to...
Required information
[The following information applies to the questions
displayed below.]
Brodrick Company expects to produce 20,500 units for the year
ending December 31. A flexible budget for 20,500 units of
production reflects sales of $430,500; variable costs of $61,500;
and fixed costs of $144,000.
Assume that actual sales for the year are $538,600 (27,600
units), actual variable costs for the year are $113,200, and actual
fixed costs for the year are $135,000.
Prepare a flexible budget performance report...
Osage, Inc., manufactures and sells lamps. The company produces
only when it receives orders and, therefore,...
Osage, Inc., manufactures and sells lamps. The company produces
only when it receives orders and, therefore, has no inventories.
The following information is available for the current
month:
Actual (based on actual orders for 450,000 units)
Master Budget (based on budgeted orders for 480,000 units)
Sales revenue
$
4,970,000
$
4,800,000
Less
Variable costs
Materials
1,536,000
1,536,000
Direct labor
226,000
288,000
Variable overhead
627,900
576,000
Variable marketing and
administrative
444,000
456,000
Total variable costs
$
2,833,900
$
2,856,000
Contribution margin...
The results for July for Brahms & Sons
follow:
Actual (based on actual sales of 76,000...
The results for July for Brahms & Sons
follow:
Actual (based on actual sales of 76,000 units)
Master Budget (based on budgeted sales 74,000 units)
Sales revenue
$
560,000
$
629,000
Less
Variable costs
Direct material
76,000
62,900
Direct labor
87,000
111,000
Variable overhead
94,000
111,000
Marketing
17,800
18,500
Administrative
14,700
18,500
Total variable costs
$
289,500
$
321,900
Contribution margin
$
270,500
$
307,100
Less
Fixed costs
Manufacturing
121,500
116,000
Marketing
26,600
18,500
Administrative
90,000
88,000
Total fixed costs...
Acme Company’s production budget for August is 17,900 units and
includes the following component unit costs:...
Acme Company’s production budget for August is 17,900 units and
includes the following component unit costs: direct materials,
$8.0; direct labor, $10.4; variable overhead, $6. Budgeted fixed
overhead is $36,000. Actual production in August was 18,135 units.
Actual unit component costs incurred during August include direct
materials, $8.60; direct labor, $9.80; variable overhead, $7.20.
Actual fixed overhead was $37,900. The standard fixed overhead
application rate per unit consists of $2.4 per machine hour and
each unit is allowed a standard...
ames Manufacturing had the following information available for
July:
Actual Results
Flexible Budget Variance
Flexible Budget...
ames Manufacturing had the following information available for
July:
Actual Results
Flexible Budget Variance
Flexible Budget
Sales Activity Variance
Master Budget
Units
12,000
?
3,000
U
?
Sales revenue
?
$
16,800
F
?
?
?
Less:
Variable manufacturing costs
$
88,500
$
92,000
?
$
111,000
Variable marketing and administrative
?
$
5,500
U
?
$
6,200
F
$
33,000
Contribution margin
$
52,000
?
?
$
6,300
U
?
What was James’s master budget contribution margin?