Question
In: Accounting
Ray Company provided the following excerpts from its Production Department’s flexible budget performance report. (Indicate the...
Ray Company provided the following excerpts from its
Production Department’s flexible budget performance report.
(Indicate the effect of each variance by selecting "F" for
favorable, "U" for unfavorable, and "None" for no effect (i.e.,
zero variance). Input all amounts as positive values. Round "rate
per hour" answers to 2 decimal places.)
Required:
Complete the Production Department’s Flexible Budget
Performance Report.
Ray Company
Production Department Flexible Budget Performance Report
For the Month Ended August 31
Actual Results Spending Variances Flexible Budget Activity
Variances Planning Budget
Labor-hours (q) 9,480 9,000
Direct labor ( q) $134,730
$132,720
Indirect labor ( + $1.50 q) 1,780 F 21,640
Utilities ( $6,500 + q) 1,450 U 336 U 12,800
Supplies ( + q) 4,940
4,444
4,300
Equipment depreciation ( $78,400 ) 0 None 0 None
Factory administration ( $18,700 + $1.90 q)
Total expense $288,088
Solutions
ekkarill92 answered 6 months agoRelated Solutions
Ray Company provided the following excerpts from its Production Department’s flexible budget performance report. Required: Complete...
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report.
Required: Complete the Production Department’s Flexible Budget
Performance Report.
Ray Company
Production Department Flexible Budget
Performance Report
For the Month Ended August 31
Actual Results
Spending Variances
Flexible Budget
Activity Variances
Planning Budget
Labor-hours (q)
9,590
9,110
Direct labor
(
q)
$190,125
$187,005
Indirect labor
(
+
$1.10
q)
3,394
F
18,079
Utilities
(
$7,600
+
q)
1,560
U
864
U
23,998
Supplies
(
+
q)...
Ray Company provided the following excerpts from its Production Department’s flexible budget performance report. (Round "rate...
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report. (Round
"rate per hour" answers to 2 decimal places. Indicate the effect of
each variance by selecting "F" for favorable, "U" for unfavorable,
and "None" for no effect (i.e., zero variance). Input all amounts
as positive values.)
Required:
Complete the Production Department’s Flexible Budget Performance
Report.
Ray Company
Production Department Flexible Budget
Performance Report
For the Month Ended August 31
Actual Results
Spending Variances
Flexible Budget...
Ray Company provided the following excerpts from its Production Department’s flexible budget performance report. (Round "rate...
Ray Company provided the following excerpts from its Production
Department’s flexible budget performance report. (Round
"rate per hour" answers to 2 decimal places. Indicate the effect of
each variance by selecting "F" for favorable, "U" for unfavorable,
and "None" for no effect (i.e., zero variance). Input all amounts
as positive values.)
Required:
Complete the Production Department’s Flexible Budget Performance
Report.
Page 441 Required: Complete the Production Department’s Flexible Budget Performance Report by filling in all the...
Page 441
Required:
Complete the Production Department’s Flexible Budget Performance
Report by filling in all the question marks.
PROBLEM 9–20 Activity and Spending Variances
LO9–1, LO9–2, LO9–3
You have just been hired by FAB Corporation, the manufacturer of
a revolutionary new garage door opening device. The president has
asked that you review the company’s costing system and “do what you
can to help us get better control of our manufacturing overhead
costs.” You find that the company has never used...
Flexible Budgets and Performance Evaluation Presented is the January performance report for the Production Department of...
Flexible Budgets and Performance Evaluation
Presented is the January performance report for the Production
Department of Nowwhat Company.
NOWWHAT COMPANY
Production Department Performance Report
For Month of January
Actual Budget Variance
Volume . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . 40,000 38,000
Manufacturing costs
Direct materials. . ....
Activity Flexible Budgeting, Performance Report, Volume Variance Novo, Inc., wants to develop an activity flexible budget...
Activity Flexible Budgeting, Performance Report, Volume
Variance
Novo, Inc., wants to develop an activity flexible budget for the
activity of moving materials. Novo uses eight forklifts to move
materials from receiving to stores. The forklifts are also used to
move materials from stores to the production area. The forklifts
are obtained through an operating lease that costs $18,000 per year
per forklift. Novo employs 25 forklift operators who receive an
average salary of $50,000 per year, including benefits. Each move...
Activity Flexible Budgeting, Performance Report, Volume Variance Novo, Inc., wants to develop an activity flexible budget...
Activity Flexible Budgeting, Performance Report, Volume
Variance
Novo, Inc., wants to develop an activity flexible budget for the
activity of moving materials. Novo uses eight forklifts to move
materials from receiving to stores. The forklifts are also used to
move materials from stores to the production area. The forklifts
are obtained through an operating lease that costs $18,000 per year
per forklift. Novo employs 25 forklift operators who receive an
average salary of $50,000 per year, including benefits. Each move...
Exercise 9-14 Prepare a Flexible Budget Performance Report [LO9-4] Lavage Rapide is a Canadian company that...
Exercise 9-14 Prepare a Flexible Budget Performance Report
[LO9-4]
Lavage Rapide is a Canadian company that owns and operates a
large automatic car wash facility near Montreal. The following
table provides data concerning the company’s costs:
Fixed Cost
per Month
Cost per
Car Washed
Cleaning supplies
$
0.80
Electricity
$
1,200
$
0.09
Maintenance
$
0.15
Wages and salaries
$
4,500
$
0.40
Depreciation
$
8,200
Rent
$
1,800
Administrative expenses
$
1,600
$
0.02
For example, electricity costs are...
Performance Report Year Ended December 31, 2017 Actual Flexible-Budget Flexible Sales-Volume Static Results Variances Budget Variances...
Performance Report
Year Ended December 31, 2017
Actual
Flexible-Budget
Flexible
Sales-Volume
Static
Results
Variances
Budget
Variances
Budget
Units sold
108,000
99,000
Revenues (sales)
$702,000
$420,750
Variable costs
430,000
237,600
Contribution margin
272,000
183,150
Fixed costs
193,850
105,000
Operating income
$78,150
$78,150
The Beekman Company produces engine parts for car manufacturers.
A new accountant intern at Beekman has accidentally deleted the
calculations on the company's variance analysis calculations for
the year ended December 31, 2017.
Requirement 1. Calculate all the required...
Kite Company has the following report for August: Flexible Sales Actual budget Flexible activity Master Results...
Kite Company has the following report for August:
Flexible
Sales
Actual
budget
Flexible
activity
Master
Results
variances
budget
variances
budget
Units
?
12000
4000 U
?
Sales revenue
?
12000 F
168000
?
?
Variable mfg. costs
96000
?
?
?
120000
Variable mktg. costs
?
4800 U
21600
?
?
Contribution margin
57600
?
?
18800 U
75200
Fill in the missing amounts. For items in the variances columns,
indicate F or U.
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