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

Solitaire company's fixed budget performance report for june follows

29/11/2021 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:

A+GRADE HELPER
George M.
Coursework Assignment Help
Best Coursework Help
Engineering Mentor
Essay & Assignment Help
Writer Writer Name Offer Chat
A+GRADE HELPER

ONLINE

A+GRADE HELPER

I find your project quite stimulating and related to my profession. I can surely contribute you with your project.

$35 Chat With Writer
George M.

ONLINE

George M.

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.

$36 Chat With Writer
Coursework Assignment Help

ONLINE

Coursework Assignment Help

I have read your project description carefully and you will get plagiarism free writing according to your requirements. Thank You

$35 Chat With Writer
Best Coursework Help

ONLINE

Best Coursework Help

I have read your project details and I can provide you QUALITY WORK within your given timeline and budget.

$24 Chat With Writer
Engineering Mentor

ONLINE

Engineering Mentor

I reckon that I can perfectly carry this project for you! I am a research writer and have been writing academic papers, business reports, plans, literature review, reports and others for the past 1 decade.

$26 Chat With Writer
Essay & Assignment Help

ONLINE

Essay & Assignment Help

I am an experienced researcher here with master education. After reading your posting, I feel, you need an expert research writer to complete your project.Thank You

$19 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

Bending moment diagram distributed load - Week 6 Discussion 1 Why Educators Should Conduct Research - What is the concentration of ethanoic acid in vinegar - Asrs psychological test - Time value of money worksheet answers - How many syllables in the word limerick - Investigating the ph scale phet answers - 7.3 preterite of ser and ir - Past tense of sew - Fixed path and variable path material handling equipment - Eng 122 week 1 quiz - 8 steps in capacity planning process - Data structure & algorithm - Unit 9 probability and statistics homework 1 answers - Katy perry firework figurative language - John sleeman net worth - Single index model vs markowitz - Urgent 1 - Glitz green 2l cleaning vinegar - Www nwlink com donclark hrd sat html - Shadow health musculoskeletal subjective - Personal safety plan for social workers - African History Discussion - Secretary certificate sample philippines - What is the forecast for may using a four-month moving average? - Shaping and chaining - A roulette wheel has 38 slots around the rim - The great gatsby lit charts - Genetics assignment sex linked traits answers - Ashdon primary school essex - The cask of amontillado criticism - Econ 304 psu - Ato occupation codes 2021 - Explorehealthcareers org forensic pathologist - St joseph's college mildura - Terence lovat ritual analysis - Christopher pettiet cause of death - Ballroom dancing lessons brisbane - What residue is being prevented by cleaning floor surfaces - What is the purpose of a dlci - They say i say chapter 2 - 9/586 pacific highway killara - Poems from different cultures - Human resource management mcgraw hill ppt - Navy equal opportunity program manual assignment 1 - Mona lisa smile movie - Master test plan vs detailed test plan - Reid chocolates is considering a third layout - Business policy and strategic management questions and answers pdf - The danger of a single story questions and answers - The mean of ungrouped data - Arc i welding industries - WEEK6-ResearchPaper-Enterprise Risk Management - W9 bus - Atomic radius of francium in nm - Marketing - Evelyn adam conceptual model for nursing - How to write a jsa - Advantages of break even - Security Analysis - The other side is not dumb by sean blanda - Darden's global supply chains case study - Heroes with a mission bumppo and batman answers - 0.125 mg to mcg - Cost per occupied room spreadsheet - Reading borough council rent - Pictures of camp green lake - DQ w5 635 - Is a nickel a conductor or insulator - Resolvedd strategy - Convert degrees to mils - Corfe castle primary school - What subjects are needed to become a vet in australia - Coach greg anabolic french toast - Me talk pretty one day audience - Clinical Supervision - Hoyt corporation agreed to the following terms - Business Logistics - Data preprocessing data cleaning - Week5 - Why does macbeth revisit the witches - Thesis Writing Service - Math - How to find the heat of fusion - Week 7 - Short Essays - Vocabulary parade costume ideas - Master business license wa - Advanced Ergonomics - Psychcentral com personality test start php - The fire quotes lord of the flies - Sea ray v drive problems - Bread and pullet saying - Pftop - Cpt code for open partial gastrectomy - Which of the following statements is true regarding self-managed work teams? - Calculate ionic conductivity from impedance spectroscopy - OB3 - Persuasive essay topic sentence starters - Ratios would provide the best information regarding total return to common stockholders - Introduction to hospitality and tourism industry ppt