In: Accounting
Original Budget |
Actual |
Flexible Budget |
|
Units Produced (in units) |
10,000 |
12,000 |
? |
Materials used (kg) |
400 |
700 |
? |
Material cost ($) |
8,000 |
See purchases |
? |
Direct Labour (hours) |
35,000 |
46,102 |
? |
Direct Labour ($) |
385,000 |
507,080 |
? |
Variable Overhead ($) |
350,000 |
419,161 |
? |
Fixed Overhead ($) |
160,000 |
161,000 |
? |
Other Information
Overhead is Allocated on Direct Labour Hours
During the year, 800 kg of materials were purchased for $5,000
Beginning Inventory: none
Ending Inventory: 100kg
Required:
Calculate the flexible budget amounts for all items.
Calculate the following variances