Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Bay city company's fixed budget performance report for july follows

14/10/2021 Client: muhammad11 Deadline: 2 Day

Exercise 23-2 Preparation of flexible budgets LO P1

Tempo Company's fixed budget for the first quarter of calendar year 2013 reveals the following.

Sales (12,000 units)

$

2,604,000

Cost of goods sold

Direct materials

$

294,840

Direct labor

524,280

Production supplies

328,800

Plant manager salary

94,840

1,242,760

Gross profit

1,361,240

Selling expenses

Sales commissions

94,920

Packaging

182,520

Advertising

100,000

377,440

Administrative expenses

Administrative salaries

144,840

Depreciation—office equip.

114,840

Insurance

84,840

Office rent

94,840

439,360

Income from operations

$

544,440

Prepare flexible budgets that show variable costs per unit, fixed costs, and three different flexible budgets for sales volumes of 10,000, 12,000, and 14,000 units. (Round cost per unit to 2 decimal places.)

Exercise 23-3 Preparation of a flexible budget performance report LO P1

Solitaire Company’s fixed budget performance report for June follows. The $623,000 budgeted expenses include $585,620 variable expenses and $37,380 fixed expenses. Actual expenses include $49,380 fixed expenses.

Fixed Budget

Actual Results

Variances

Sales (in units)

8,300

10,700



Sales (in dollars)

$

830,000

$

1,070,000

$

240,000

F

Total expenses

623,000

747,600

124,600

U


Income from operations

$

207,000

$

322,400

$

115,400

F


Prepare a flexible budget performance report showing any variances between budgeted and actual results. List fixed and variable expenses separately. (Do not round intermediate calculations.)

Exercise 23-4 Preparation of a flexible budget performance report LO P1

Bay City Company’s fixed budget performance report for July follows. The $513,000 budgeted expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses.

Fixed Budget

Actual Results

Variances

Sales (in units)

7,000

5,900



Sales (in dollars)

$

560,000

$

525,100

$

34,900

U

Total expenses

513,000

476,000

37,000

F


Income from operations

$

47,000

$

49,100

$

2,100

U


Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Do not round intermediate calculations.)

Exercise 23-6 Computation of total variable and fixed overhead variances LO P3

Sedona Company set the following standard costs for one unit of its product for 2013.

Direct material (30 Ibs. @ $2.20 per Ib.)

$

66.00

Direct labor (20 hrs. @ $4.20 per hr.)

84.00

Factory variable overhead (20 hrs. @ $2.20 per hr.)

44.00

Factory fixed overhead (20 hrs. @ $1.10 per hr.)

22.00

Standard cost

$

216.00

The $3.30 ($2.20 + $1.10) total overhead rate per direct labor hour is based on an expected operating level equal to 60% of the factory's capacity of 68,000 units per month. The following monthly flexible budget information is also available.

Operating Levels (% of capacity)

55%

60%

65%

Budgeted output (units)

37,400

40,800

44,200

Budgeted labor (standard hours)

748,000

816,000

884,000

Budgeted overhead (dollars)

Variable overhead

$

1,645,600

$

1,795,200

$

1,944,800

Fixed overhead

897,600

897,600

897,600

Total overhead

$

2,543,200

$

2,692,800

$

2,842,400

During the current month, the company operated at 55% of capacity, employees worked 728,000 hours, and the following actual overhead costs were incurred. (Round "OH costs per hour" to 2 decimal places.)

Variable overhead costs

$

1,625,000

Fixed overhead costs

924,300

Total overhead costs

$

2,549,300

Exercise 23-7A Computation and interpretation of overhead spending, efficiency, and volume variances LO P3

[The following information applies to the questions displayed below.]

Sedona Company set the following standard costs for one unit of its product for 2013.

Direct material (30 Ibs. @ $2.00 per Ib.)

$

60.00

Direct labor (20 hrs. @ $4.50 per hr.)

90.00

Factory variable overhead (20 hrs. @ $2.90 per hr.)

58.00

Factory fixed overhead (20 hrs. @ $1.20 per hr.)

24.00

Standard cost

$

232.00

The $4.10 ($2.90 + $1.20) total overhead rate per direct labor hour is based on an expected operating level equal to 65% of the factory's capacity of 63,000 units per month. The following monthly flexible budget information is also available.

Operating Levels (% of capacity)

60%

65%

70%

Budgeted output (units)

37,800

40,950

44,100

Budgeted labor (standard hours)

756,000

819,000

882,000

Budgeted overhead (dollars)

Variable overhead

$

2,192,400

$

2,375,100

$

2,557,800

Fixed overhead

982,800

982,800

982,800

Total overhead

$

3,175,200

$

3,357,900

$

3,540,600

During the current month, the company operated at 60% of capacity, employees worked 726,000 hours, and the following actual overhead costs were incurred.

Variable overhead costs

$

2,120,000

Fixed overhead costs

1,065,000

Total overhead costs

$

3,185,000

Exercise 23-9A Materials variances recorded and closed LO P4

Hart Company made 6,200 bookshelves using 88,200 board feet of wood costing $643,860. The company’s direct materials standards for one bookshelf are 16 board feet of wood at $7.20 per board foot. Hart Company records standard costs in its accounts and its material variances in separate accounts when it assigns materials costs to the Goods in Process Inventory account.

Exercise 23-10 Computation of total overhead rate and total overhead variance LO P3

World Company expects to operate at 80% of its productive capacity of 55,000 units per month. At this planned level, the company expects to use 23,100 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate based on direct labor hours. At the 80% capacity level, the total budgeted cost includes $60,060 fixed overhead cost and $267,960 variable overhead cost. In the current month, the company incurred $342,000 actual overhead and 20,100 actual labor hours while producing 41,000 units. (Round "OH costs per DL hour" to 2 decimal places.)

Exercise 23-11 Computation of volume and controllable overhead variances LO P3

World Company expects to operate at 80% of its productive capacity of 63,750 units per month. At this planned level, the company expects to use 35,700 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate based on direct labor hours. At the 80% capacity level, the total budgeted cost includes $64,260 fixed overhead cost and $439,110 variable overhead cost. In the current month, the company incurred $500,000 actual overhead and 32,700 actual labor hours while producing 48,000 units.

Exercise 23-12 Computing and interpreting sales variances LO A1

Comp Wiz sells computers. During May 2013, it sold 500 computers at a $800 average price each. The May 2013 fixed budget included sales of 550 computers at an average price of $760 each.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Homework Guru
Write My Coursework
Math Guru
Accounting & Finance Master
Math Exam Success
Top Grade Tutor
Writer Writer Name Offer Chat
Homework Guru

ONLINE

Homework Guru

I can assist you in plagiarism free writing as I have already done several related projects of writing. I have a master qualification with 5 years’ experience in; Essay Writing, Case Study Writing, Report Writing.

$40 Chat With Writer
Write My Coursework

ONLINE

Write My Coursework

I have written research reports, assignments, thesis, research proposals, and dissertations for different level students and on different subjects.

$42 Chat With Writer
Math Guru

ONLINE

Math Guru

After reading your project details, I feel myself as the best option for you to fulfill this project with 100 percent perfection.

$38 Chat With Writer
Accounting & Finance Master

ONLINE

Accounting & Finance Master

After reading your project details, I feel myself as the best option for you to fulfill this project with 100 percent perfection.

$45 Chat With Writer
Math Exam Success

ONLINE

Math Exam Success

I will provide you with the well organized and well research papers from different primary and secondary sources will write the content that will support your points.

$27 Chat With Writer
Top Grade Tutor

ONLINE

Top Grade Tutor

I am a PhD writer with 10 years of experience. I will be delivering high-quality, plagiarism-free work to you in the minimum amount of time. Waiting for your message.

$48 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Journal of inequalities in pure and applied mathematics - Industry open systems approach to social responsibility - What can wash away my sin - Roll of thunder hear my cry essay topics - Consider the six hypothetical electron states listed in the table - Watsons go to birmingham summary - Debye theory of specific heat ppt - Assessment 2: - 87 goman street sunnybank hills - Thornton industries began construction of a warehouse - Dr mark nesselson pediatrician - How does sun microsystems make money - Race and ethnicity sociology essay - How to win erp simulation game - PAY FOR TEXTBOOKS (PDF) (NO BIDS- ANSWERS ONLY) - Rigid in outlook harsh crossword clue - Claim and adjustment letter - Draft - Www gpwonline co za visa forms - Parsons sick role theory - Concert report for music class - Market competitive pay system - Buffalo wild wings code of ethics - A firm offers routine physical examinations - Ppt on mcdonalds marketing strategies - Fish4jobs stoke on trent - Postcard letter - Discussion - 8 mile rap battle lyrics - Rjr nabisco case solution - University of phoenix college algebra - The curious researcher chapter 1 - How to draw a constellation diagram - Advanced pathophysiology - Discussion - Unit 4-Discussion - Tomorrow tomorrow tomorrow speech macbeth analysis - Marty and the martians - 27 the strand moonee ponds - A & P II - No saco nada de la escuela analytical essay - Psych - Reply 1 and 2 ,150 words each one by 09/11/2020 at 6:00 pm please add references and citations - Ali bahadur family tree - Centralised database advantages and disadvantages - 91 lanita road ferny grove - Q mc tf ti solve for tf - Philippe cassard fantasie in f minor op 103 d 940 - Sherburn and villages u3a - Journal Article Summaries - Create your own god or goddess worksheet - A history of the world in six glasses sparknotes - 1.62 m in feet - Triathlon south west rocks - Poetry analysis paragraph example - One advantage of the corporate form of organization is the - Two bit mathews quotes from the book - Prepare an income statement for delray mfg a manufacturer - Quickbooks new client checklist - Algorithm to pseudocode converter - Periodic table practice worksheet - PPT BE - Moral decision making scenarios - Oil smoke and mirrors documentary - Essay - Crash course world history 30 - Quantitative Trait Loci - Red cross financial statements 2015 - The crucible act 3 packet answers - Rotter incomplete sentence blank - What was wang kon's greatest achievement - Electrical spotters course geelong - Why does zeus decline to save hector - Phd IT in Data analytics and analysis - Pinewood house stepping hill - First isomorphism theorem for modules proof - Hsc french continuers 2010 - The company has its camera and drone assembly facilities in - Kean university grading scale - A six column table for jkl company follows - Natan bursztyn - Plain View, Open Fields, Abandonment, and Border Searches as They Relate to Search and Seizures - Bondi road art supplies - Differential diagnosis mnemonic vitamin c - Lutron qsps 1 50 - Week 6 lab summit ridge mountain resort student - Complete book of sports betting jack moore - Capstone Project Topic Selection and Approval - Igcse english essay examples - Not all the items in your office supply store are evenly distributed - Whirly corporation's most recent income - Social media celebrity - What are the main considerations in processing big data - What are patricia benner's five levels of proficiency in nursing - What is a master status in sociology - Case study 6.3 johnson & rogers software engineering inc - Tic tac toe synonym - Use case diagram for student admission system - Http pubs usgs gov gip volc types html - Qld boat licence rules