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In: Accounting

Klamaty, SA., is looking for feedback on performance. The company compares the budget for the year...

Klamaty, SA., is looking for feedback on performance. The company compares the budget for the year with the actual costs. Klamaty, SA., had the following budgeted data:

Unit sales for 2019 10,000

Unit production for 2019 10,000

Budgeted fixed overhead for 2019:

Supervision $18,000

Depreciation 20,000

Rent 10,000

Budgeted variable costs per unit:

Direct materials $18.00

Direct labour 25.00

Supplies 0.20

Indirect labour 1.00

Power 0.10

The following actually occurred:

Actual unit sales for 2019 11,000

Actual unit production for 2019 12,000

Actual fixed overhead for 2019:

Supervision $17,850

Depreciation 20,000

Rent 10,000

Actual variable costs for 2019:

Direct materials $214,000

Direct labour 320,000

Supplies 2,500

Indirect labour 10,000

Power 1,500

Required: a) Prepare a performance report for all costs showing static budget variances.

b) Prepare a performance report for all costs showing flexible budget variances

c) Evaluate the variances.

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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