Performance Report Based on Budgeted and Actual Levelsof ProductionBowling Company budgeted the following amounts:Variable costs of production:Direct materials 3 pounds @ $0.60 per poundDirect labor 0.5 hr. @ $16.00 per hourVOH 0.5 hr. @ $2.20FOH:Materials handling $6,200Depreciation $2,600 At the end of the year, Bowling had the following actual costs for production of 3,800 units:Direct materials $ 6,800Direct labor 30,500VOH 4,200FOH:Materials handling 6,300Depreciation 2,600Required:1. Calculate the budgeted amounts for each cost category listed above for the 4,000budgeted units.2. Prepare a performance report using a budget based on expected production of 4,000units.3. Prepare a performance report using a budget based on the actual level of production of3,800 units.

During the current year, Cullumber Corporation expects to produce 10,000 units and has budgeted the following: net income $350,000; variable costs $1,290,000; and fixed costs $110,000. It has invested assets of $1,650,000. What was the company's budgeted ROI? What was its budgeted markup percentage using a total cost approach? Budgeted ROI per unit Budgeted markup percentage $ %

Management at Marvin Limited has provided the following budgeted and actual annual figures for one of its products based on variable costing: Output (production and sales) Sales revenue Direct materials Direct labour Variable overheads Fixed overheads Required: a) b) c) Budget 18,000 units £ Calculate the following: 576,000 (27,000 metres) 132,300 (28,800 hours) 273,600 (28,800 hours) 115,200 8,000 Construct a flexed budget for the actual units made and sold. i. ii. iii. iv. Use your answer to a) above to calculate the sales volume contribution margin variance and interpret this result. Actual 20,200 units £ 828,200 (27,270 metres) 136,350 (40,400 hours) 391,880 (40,400 hours) 193,920 12,150 Sales price variance; Direct materials price and usage variances; Direct labour wage rate and efficiency variances; and Fixed overhead expenditure variance. d) Briefly explain how standard costing and variance analysis support budgetary control within an organisation.

Winston Company had two products code named X and Y. The firm had the following budget for August: Product X $ 296,040 197,360 $ 98,680 50,000 Product Y $ 541,000 216,400 $324,600 108,000 $216,600 $ 50 $ 48,680 $ 120 Sales Variable Costs Contribution Margin Fixed costs Operating Income Selling Price per unit On September 1, the following actual operating results for August were reported: Product X $366,800 203,500 $ 163,300 58,500 $ 104,800 3,170 Sales Variable Costs Contribution Margin Fixed costs Operating Income Units Sold Product Y $ 546,800 224,500 $322,300 116,500 $ 205,800 9,850 Total industry volume for both products X and Y was estimated to be 138,500 units at the time of the budget. Actual industry volume for the period for products X and Y was 106,800 units. The contribution margin sales volume variance for Product X is: Multiple Choice $12,500 unfavorable. $15,800 favorable. $23,200 favorable. $23,200 unfavorable. Total $ 837, 040 413,760 $ 423,280 158,000 $ 265,280 $28,120…

Use this information for Stringer Company to answer the question that follow. The following data are given for Stringer Company: Budgeted production 930 units Actual production   1,013 units Materials:       Standard price per ounce $1.85     Standard ounces per completed unit 10     Actual ounces purchased and used in production 10,434     Actual price paid for materials $21,390 Labor:       Standard hourly labor rate $14.60 per hour     Standard hours allowed per completed unit 4.7     Actual labor hours worked 5,216.95     Actual total labor costs $79,558 Overhead:       Actual and budgeted fixed overhead $1,015,000     Standard variable overhead rate $25.00 per standard labor hour     Actual variable overhead costs $146,075 Overhead is applied on standard labor hours. Round your intermediate calculations and final answer to the nearest cent. The direct materials price variance is a.$5,217.00 favorable b.$2,086.80 favorable c.$2,086.80…

Use this information for Stringer Company to answer the question that follow. The following data are given for Stringer Company: Budgeted production 911 units Actual production   1,080 units Materials:       Standard price per ounce $1.89     Standard ounces per completed unit 10     Actual ounces purchased and used in production 11,124     Actual price paid for materials $22,804 Labor:       Standard hourly labor rate $14.32 per hour     Standard hours allowed per completed unit 4.3     Actual labor hours worked 5,562     Actual total labor costs $84,821 Overhead:       Actual and budgeted fixed overhead $1,082,000     Standard variable overhead rate $25.00 per standard labor hour     Actual variable overhead costs $155,736 Overhead is applied on standard labor hours. The direct materials quantity variance is a.$1,779.64 favorable b.$1,779.64 unfavorable c.$612.36 unfavorable d.$612.36 favorable

Petersons Planters, Inc. budgeted the following amounts for the coming year: Beginning inventory, finished goods Cost of goods sold Direct material used in production Ending inventory, finished goods Beginning and ending work-in-process inventory Overhead is estimated to be two times the amount of direct labor dollars. What amount should be budgeted for direct labor for the coming year? Select one: $10,000 400,000 100,000 25,000 0 a. $210,000 b. $157,500 c. $315,000 d. $105,000

Perez Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost $ 8.98 per unit $ 3.40 per unit Fixed manufacturing cost Fixed selling and administrative cost $ 2,000 total $ 600 total Perez planned to produce and sell 2,300 units. Actual production and sales amounted to 2,600 units. Required a. Prepare the pro forma income statement in contribution format that would appear in a master budget. b. Prepare the proforma Income statement in contribution format that would appear in a flexible budget. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. PEREZ MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,300 Units