Question

Multiple Product Performance Report
Case Products manufactures two models of DVD storage cases: regular and deluxe. Presented is standard cost information for each model:

Cost Components		Regular		Deluxe
Direct materials
Acrylic sheets	3 sheets x $12 =	$36.00	5 sheets x $12 =	$60.00
Assembly kit	=	5.00	=	5.00
Direct labor	0.5 hour x $20 =	10.00	0.75 hours x $20 =	15.00
Variable overhead	0.5 labor hr. x $5 =	2.50	0.75 labor hrs. x $5 =	3.75
Total		$ 53.50		$83.75

Budgeted fixed manufacturing overhead is $46,000 per month. During July, the company produced 8,000 regular and 3,500 deluxe storage cases while incurring the following manufacturing costs:

Direct materials	$561,300
Direct labor	130,800
Variable overhead	34,625
Fixed overhead	48,150
Total	$774,875

Prepare a flexible budget performance report for the July manufacturing activities.

CASE PRODUCTS
Manufacturing Activities Performance Report
For the Month of July
			Actual	Flexible Budget	Flexible Budget Variance
Volume
Regular			Answer	Answer
Deluxe			Answer	Answer
Variable Costs
Direct materials
Acrylic sheets
Regular				Answer
Deluxe				Answer
Assembly kits
Regular				Answer
Deluxe				Answer
Total			Answer	Answer	Answer	AnswerFU
Direct labor
Regular				Answer
Deluxe				Answer
Total			Answer	Answer	Answer	AnswerFU
Variable overhead
Regular				Answer
Deluxe				Answer
Total			Answer	Answer	Answer	AnswerFU
Fixed overhead			Answer	Answer	Answer	AnswerFU
Total			Answer	Answer	Answer	AnswerFU

Please answer all parts of the question.

PreviousSave AnswersNext

Answer 1

CASE PRODUCTS
Manufacturing Activities Performance Report
For the Month of July
	Actual	Flexible Budget	Flexible Budget Variance
Volume:
Regular	8000	8000
Deluxe	3500	3500
Variable Costs:
Direct materials
Acrylic sheets
Regular		$288,000
Deluxe		$210,000
Assembly kits
Regular		$40,000
Deluxe		$17,500
Total	$561,300	$555,500	$5800	U
Direct labor
Regular		$80,000
Deluxe		$52,500
Total	130,800	$132,500	$1700	F
Variable overhead
Regular		$20,000
Deluxe		$13,125
Total	$34,625	$33,125	1500	U
Fixed overhead	48,150	$46,000	2150	U
Total	$774,875	$767,125	7750	U

Working:

	Regular	Delux
	8000	3500
Direct Material :
Acrylic sheets( 8000 *36); ( 3500 *60)	$288,000	$210,000
Assembly kit. ( 8000 *$5); ( 3500 *5)	$40,000	$17,500
Direct Labor
(8000× $10) ; ( 3500 *$15)	$80,000	$52,500
Variable Overhead
(8000×2.50); (3500*3.75)	$20,000	$13,125