In: Accounting
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 | $928,200 | $930,500 | $(2,300) | |
Central Region | 666,600 | 670,000 | (3,400) | |
Western Region | (G) | (H) | (I) | |
Total | (J) | (K) | $(L) | $(5,700) |
Garland COMPANY | ||||
Budget Performance Report—Manager, Western Region Plant | ||||
For the Month Ended November 30 | ||||
Department | Actual | Budget | Over Budget | Under Budget |
Chip Fabrication | (A) | (B) | (C) | |
Electronic Assembly | $192,750 | $190,250 | $2,500 | |
Final Assembly | 307,220 | 308,000 | $(780) | |
Total | (D) | (E) | $(F) | $(780) |
Garland COMPANY | ||||
Budget Performance Report—Supervisor, Chip Fabrication | ||||
For the Month Ended November 30 | ||||
Cost | Actual | Budget | Over Budget | Under Budget |
Factory wages | $60,300 | $58,880 | $1,420 | |
Materials | 155,740 | 156,900 | $(1,160) | |
Power and light | 10,180 | 8,720 | 1,460 | |
Maintenance | 16,370 | 15,050 | 1,320 | |
Total | $242,590 | $239,550 | $4,200 | $(1,160) |
Required: | |
A. | Complete the budget performance reports by determining the correct amounts for the lettered spaces. Enter all amounts as positive numbers. No decimal places are needed. |
B. | Explain the performance of the production division for November. |
Garland Co. | ||||||||
Budget performance report - Vice president Production | ||||||||
for the month ended November 30 | ||||||||
Plant | Actual | Budget Over Budget | Over Budget | Under Budget | ||||
Eastern Region | 928200 | 930500 | -2300 | |||||
Central Region | 666600 | 670000 | -3400 | |||||
Western Region | 742560 | 737800 | 4760 | (from second table) | ||||
Total | 2337360 | 2338300 | 4760 | -5700 | ||||
Garland Co. | ||||||||
Budget performance report - Manager, Western Region Plant | ||||||||
for the month ended November 30 | ||||||||
Plant | Actual | Budget Over Budget | Over Budget | Under Budget | ||||
Chip Fabrication | 242590 | 239550 | 3040 | (from third table) | ||||
Electronic Assembly | 192750 | 190250 | 2500 | |||||
Final Assembly | 307220 | 308000 | -780 | |||||
Total | 742560 | 737800 | 5540 | -780 | ||||
Garland Co. | ||||||||
Budget performance report - Supervisor, Chip Fabrication | ||||||||
for the month ended November 30 | ||||||||
Plant | Actual | Budget Over Budget | Over Budget | Under Budget | ||||
Factory wages | 60300 | 58880 | 1420 | |||||
Materials | 155740 | 156900 | -1160 | |||||
Power and light | 10180 | 8720 | 1460 | |||||
Maintenance | 16370 | 15050 | 1320 | |||||
Total | 242590 | 239550 | 4200 | -1160 | ||||
The production division has been performing correctly with Eastern and Central Plants, the actual costs are | ||||||||
in less than the budgeted. Only Western Region has not been performing and actual expenses is over the budgeted | ||||||||
one. |