Question

In: Accounting

Figure 8-8 Rammazzotti, Inc., is looking for feedback on company performance. The company compares the budget...

Figure 8-8

Rammazzotti, Inc., is looking for feedback on company performance. The company compares the budget for the year with the actual costs. Data have been collected below:

Rammazzotti Inc., had the following budgeted data:

Unit sales for 2014                                          26,000

Unit production for 2014                                26,000

Budgeted fixed overhead for 2014:

Supervision                                                     $ 800

Depreciation                                                   2,000

Rent                                                                    100

Budgeted variable costs per unit:

Direct materials                                              $0.15

Direct labor                                                       0.20

Supplies                                                            0.02

Indirect labor                                                    0.05

Power                                                                0.02

The following actually occurred:

Actual unit sales for 2014                               24,000

Actual unit production for 2014                     28,000

Actual fixed overhead for 2014:

Supervision                                                     $ 850

Depreciation                                                   2,000

Rent                                                                    100

Actual variable costs:

Direct materials                                              $3,500

Direct labor                                                       4,900

Supplies                                                               530

Indirect labor                                                    1,250

Power                                                                   470

15. Refer to Figure 8-8. The budgeted cost for direct labor for 2014 was

a. $1,200.

b. $1,300.

c. $4,800.

d. $5,200.

18. Refer to Figure 8-8. The total flexible budgeted costs for 2014 are

a. $10,560.

b. $13,460.

c. $13,510.

d. $15,220.

20. Refer to Figure 8-8. The flexible budget variance for indirect labor for 2014 is

a. $1,250 F.

b. $50 F.

c. $150 F.

d. $1,200 U.

21. Refer to Figure 8-8. The flexible budget variance for total cost for 2014 is

a. $90 F.

b. $140 F.

c. $1,620 F.

d. $50 F.

22. Refer to Figure 8-8. The total actual costs for 2014 were

a. $13,550.

b. $10,650.

c. $13,600.

d. $13,510.

Solutions

Expert Solution

budget actual
Unit sales for 2014            26,000.00    24,000.00
Unit production for 2014            26,000.00    28,000.00
fixed overhead for 2014:
Supervision                  800.00          850.00
Depreciation               2,000.00      2,000.00
Rent                  100.00          100.00
Total Fixed Cost               2,900.00      2,950.00
variable costs per unit:
Direct materials                       0.15               4,200.00      3,500.00
Direct labor                       0.20               5,600.00      4,900.00
Supplies                       0.02                  560.00          530.00
Indirect labor                       0.05               1,400.00      1,250.00
Power                       0.02                  560.00          470.00
Total Variable Cost            12,320.00    10,650.00
Total Cost            15,220.00    13,600.00

15. d $5200 (26000*0.20)

18.d $15220 (budgeted cost per unit * actual unit produced)

20. b $150F (1400-1250)

21.c $1620F (15220-13600)

22.c $13600

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

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...
The performance report compares data from Remember When’s Inc. static master budget with the actual costs...
The performance report compares data from Remember When’s Inc. static master budget with the actual costs of its Watch Division for the year ended December 31. Remember When, Inc. Performance Report-Watch Division For the Year Ended December 31 Cost Category Budgeted Costs * Actual Costs † Difference Under (Over) Budget Direct materials $42,000 $46,000 ($4,000) Direct labor 10,325 11,779 (1,454) Variable overhead      Indirect materials 3,500 3,600 (100)      Indirect labor 5,250 5,375 (125)      Utilities 1,750 1,810 (60)     ...
this section compares the performance of ross and tjx companies in year 2018 with another company...
this section compares the performance of ross and tjx companies in year 2018 with another company selected as a benchmark for comparsion. Cross sectional performance analysis. the cmparsion should be interpreted and suggest why the performance of the selected company is better/ worse than other company
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland Company Budget Performance Report—Vice President, Production For the Month Ended November 30 Plant Actual Budget Over Budget Under Budget Eastern Region $495,600 $495,600 $0 Central Region 356,800 353,200 $3,600 Western Region (g) (h) (i) $(j) $(k) $(l) $3,140 Garland Company Budget Performance Report—Manager, Western Region Plant For the Month Ended November 30 Department Actual Budget Over Budget Under...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland Company Budget Performance Report—Vice President, Production For the Month Ended November 30 Plant Budget Actual Over Budget Under Budget Eastern Region $530,900 $530,900 $0 Central Region 382,200 378,400 (3,800) Western Region (g) (h) (i) $(j) $(k) $(l) $(3,800) Garland Company Budget Performance Report—Manager, Western Region Plant For the Month Ended November 30 Department Budget Actual Over Budget Under...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland Company Budget Performance Report—Vice President, Production For the Month Ended November 30 Plant Actual Budget Over Budget Under Budget Eastern Region $389,000 $389,000 $0 Central Region 280,100 277,300 $2,800 Western Region (g) (h) (i) $(j) $(k) $(l) $3,120 Garland Company Budget Performance Report—Manager, Western Region Plant For the Month Ended November 30 Department Actual Budget Over Budget Under...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland Company Budget Performance Report—Vice President, Production For the Month Ended November 30 Plant Actual Budget Over Budget Under Budget Eastern Region $409,200 $409,200 $0 Central Region 294,600 291,700 $2,900 Western Region (g) (h) (i) $(j) $(k) $(l) $3,220 Garland Company Budget Performance Report—Manager, Western Region Plant For the Month Ended November 30 Department Actual Budget Over Budget Under...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland Company Budget Performance Report—Vice President, Production For the Month Ended November 30 Plant Actual Budget Over Budget Under Budget Eastern Region $549,800 $549,800 $0 Central Region 395,900 391,900 4,000 Western Region (g) (h) (i) $(j) $(k) $(l) $3,170 Garland Company Budget Performance Report—Manager, Western Region Plant For the Month Ended November 30 Department Actual Budget Over Budget Under...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Delmar Company, a manufacturer...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Budget Performance Report—Vice President, Production For the Month Ended June 30 Plant Actual Budget Over Budget (Under) Budget Eastern Region $474,000 $474,000 $0 Central Region 337,900 341,300 (3,400) Western Region (g) (h) (i) $(j) $(k) $(l) $(3,400) Delmar Company Budget Performance Report—Manager, Western Region Plant For the Month Ended June 30 Department Actual Budget Over Budget (Under)...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer...
Budget Performance Reports for Cost Centers Partially completed budget performance reports for Garland Company, a manufacturer of light duty motors, follow: Garland Company Budget Performance Report—Vice President, Production For the Month Ended November 30 Plant Budget Actual Over Budget Under Budget Eastern Region $447,400 $447,400 $0 Central Region 322,100 318,900 (3,200) Western Region (g) (h) (i) $(j) $(k) $(l) $(3,200) Garland Company Budget Performance Report—Manager, Western Region Plant For the Month Ended November 30 Department Budget Actual Over Budget Under...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT