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Required:

Prepare a flexible budget performance report that shows the company's activity variances and revenue and spending variances for August. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)







Lavage Rapide
Flexible Budget Performance Report
For the Month Ended August 31




Activity Variances

Revenue and Spending Variances

Revenue

$

980

U

$

40

U

Expenses:

 

 




 

 




Cleaning supplies

 

160

F

 

520

U

Electricity

 

30

F

 

150

U

Maintenance

 

40

F

 

500

U

Wages and salaries

 

60

F

 

860

U

Depreciation

 

0

None

 

0

None

Rent

 

0

None

 

0

None

Administrative expenses

 

20

F

 

70

U

Total expense

 

310

F

 

2,100

U

Net operating income

$

670

U

$

2,140

U



http://mh10.brownstone.net/modules/skin/images/grading/incorrect.gif

Total grade: 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 0.0×1/40 + 1.0×1/40 + 0.0×1/40 + 0.0×1/40 = 0% + 0% + 0% + 0% + 0% + 3% + 0% + 3% + 0% + 3% + 0% + 3% + 0% + 0% + 0% + 0% + 0% + 3% + 0% + 3% + 0% + 0% + 0% + 0% + 0% + 3% + 0% + 0% + 0% + 3% + 0% + 3% + 0% + 0% + 0% + 0% + 0% + 3% + 0% + 0%

Feedback:




Lavage Rapide
Flexible Budget Performance Report
For the Month Ended August 31




Planning
Budget

Activity
Variances

Flexible
Budget

Revenue and Spending
Variances

Actual
Results

Cars washed (q)

 

9,000

 

 

 

 

8,800




 

 

 

8,800

Revenue ($4.90q)

$

44,100

$

980

U

$

43,120

$

40

U

$

43,080

Expenses:

 

 

 

 

 

 

 




 

 

 

 

Cleaning supplies ($0.80q)

 

7,200

 

160

F

 

7,040




520

U

 

7,560

Electricity ($1,200 + $0.15q)

 

2,550

 

30

F

 

2,520




150

U

 

2,670

Maintenance ($0.20q)

 

1,800

 

40

F

 

1,760




500

U

 

2,260

Wages and salaries
($5,000 + $0.30q)

 

7,700

 

60

F

 

7,640




860

U

 

8,500

Depreciation ($6,000)

 

6,000

 

0

None

 

6,000




0

None

 

6,000

Rent ($8,000)

 

8,000

 

0

None

 

8,000




0

None

 

8,000

Administrative expenses
($4,000 + $0.10q)

 

4,900

 

20

F

 

4,880




70

U

 

4,950

Total expense

 

38,150

 

310

F

 

37,840




2,100

U

 

39,940

Net operating income

$

5,950

$

670

U

$

5,280

$

2,140

U

$

3,140











Question 24: Score 0/4




Your response

Correct response

Exercise 10-13 Flexible Budget [LO1]

Wyckam Manufacturing Inc. has provided the following information concerning its manufacturing costs:










Fixed Cost
Per Month

Cost per
Machine-Hour

Direct materials
















$

4.25




Direct labor




$

36,800
















Supplies
















$

0.30




Utilities




$

1,400







$

0.05




Depreciation




$

16,700
















Insurance




$

12,700



















For example, utilities should be $1,400 per month plus $0.05 per machine-hour. The company expects to work 5,000 machine-hours in June. Note that the company's direct labor is a fixed cost.




Required:

Prepare the company's planning budget for manufacturing costs for June. (Omit the "$" sign in your response.)







Wyckam Manufacturing Inc.
Planning Budget for Manufacturing Cost
For the Month Ended June 30

Direct materials

$

  1   (0%)

Direct labor




  1   (0%)

Supplies




  1   (0%)

Utilities




  1   (0%)

Depreciation




  1   (0%)

Insurance




  1   (0%)

Total manufacturing cost

$

  1   (0%)



Exercise 10-13 Flexible Budget [LO1]

Wyckam Manufacturing Inc. has provided the following information concerning its manufacturing costs:










Fixed Cost
Per Month

Cost per
Machine-Hour

Direct materials
















$

4.25




Direct labor




$

36,800
















Supplies
















$

0.30




Utilities




$

1,400







$

0.05




Depreciation




$

16,700
















Insurance




$

12,700



















For example, utilities should be $1,400 per month plus $0.05 per machine-hour. The company expects to work 5,000 machine-hours in June. Note that the company's direct labor is a fixed cost.

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