and actual b. Using the results of your analysis, prepare an c. Explain why the total variances for sales, food, and labor in your reconciliation differ from those originally presented to the restaurant manager. Presented are Instant's budgeted and actual contribution income statements for October. The company Instant Computing is a contract manufacturer of laptop computers sold under brand named companies has three responsibility centers: Production, Selling and Distribution, and Administration. Production and Administration are cost centers while Selling and Distribution is a profit center, INSTANT COMPUTING Budgeted Contribution Income Statement For Month of October $450,000 $90,000 36,000 27,000 $153,000 108,000 Sales (1,800 X $250) Less variable costs Variable cost of goods sold Direct materials (1,800 x $50) Direct labor (1,800 x $20). Manufacturing overhead (1,800 x $15) Selling and Distribution (1,800 x $60) Contribution margin Less fixed costs Manufacturing overhead. Selling and Distribution.. Administrative.. Wet income. (261,000 189,000 80,000 60,000 21,000 (161,00 $ 28,00 Chapter 10 Standard Costs and Performance Reports INSTANT COMPUTING Actual Contribution Income Statement For Month of October $687,500 Sales (2,500 $275) Less variable costs Cost of goods sold Direct materials Direct labor Manufacturing overhead. Selling and Distribution. Contribution margin Less fixed costs Manufacturing overhead.. Selling and Distribution. Administrative. Net income (loss) $125,000 57,500 48,750 $231,250 188,000 (419,250) 268,250 78,000 75,000 43,000 (196,000) $ 72,250 Required a. Prepare a performance report for Production that compares actual and allowed costs. b. Prepare a performance report for Selling and Distribution that compares actual and allowed costs. c. Determine the sales price and the net sales volume variances. d. Prepare a report that summarizes the performance of Selling and Distribution. e. Determine the amount by which Administration was over or under budget. f. Prepare a report reconciling budgeted and actual net income. Your report should focus on the performance of each responsibility center. Cases 010-42. Discreti Cantor Performance Reports many has been hurt in recent years by compet head of Consum and actual b. Using the results of your analysis, prepare an c. Explain why the total variances for sales, food, and labor in your reconciliation differ from those originally presented to the restaurant manager. Presented are Instant's budgeted and actual contribution income statements for October. The company Instant Computing is a contract manufacturer of laptop computers sold under brand named companies has three responsibility centers: Production, Selling and Distribution, and Administration. Production and Administration are cost centers while Selling and Distribution is a profit center, INSTANT COMPUTING Budgeted Contribution Income Statement For Month of October $450,000 $90,000 36,000 27,000 $153,000 108,000 Sales (1,800 X $250) Less variable costs Variable cost of goods sold Direct materials (1,800 x $50) Direct labor (1,800 x $20). Manufacturing overhead (1,800 x $15) Selling and Distribution (1,800 x $60) Contribution margin Less fixed costs Manufacturing overhead. Selling and Distribution.. Administrative.. Wet income. (261,000 189,000 80,000 60,000 21,000 (161,00 $ 28,00 Chapter 10 Standard Costs and Performance Reports INSTANT COMPUTING Actual Contribution Income Statement For Month of October $687,500 Sales (2,500 $275) Less variable costs Cost of goods sold Direct materials Direct labor Manufacturing overhead. Selling and Distribution. Contribution margin Less fixed costs Manufacturing overhead.. Selling and Distribution. Administrative. Net income (loss) $125,000 57,500 48,750 $231,250 188,000 (419,250) 268,250 78,000 75,000 43,000 (196,000) $ 72,250 Required a. Prepare a performance report for Production that compares actual and allowed costs. b. Prepare a performance report for Selling and Distribution that compares actual and allowed costs. c. Determine the sales price and the net sales volume variances. d. Prepare a report that summarizes the performance of Selling and Distribution. e. Determine the amount by which Administration was over or under budget. f. Prepare a report reconciling budgeted and actual net income. Your report should focus on the performance of each responsibility center. Cases 010-42. Discreti Cantor Performance Reports many has been hurt in recent years by compet head of Consum