Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can someone fill in the charts? Adams Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's
can someone fill in the charts?
Adams Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow: Production in units Direct material Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing comt Statie Budget 33,000 kita $217,800 184,800 49,500 452,100 213,000 $665,100 Actual Results 34,300 kita $264,380 185, 780 54,450 504, 610 208, 900 $713,510 Required a. Convert the static budget into a flexible budget b. Calculate the variances Complete this question by entering your answers in the tabs below. Required A Required B Convert the static budget into a flexible budget. (Do not round Intermediate calculations.) Flexible Budget Kits Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs $ 0 $ 0 Required Required B > Adams Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production department's static budget and actual results for Year 3 follow: Production in anits Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing coat Statie Budget 33,000 kito $217,800 184,800 49,500 452,200 213,000 $665,100 Actual Results 34,300 kits $264,380 185, 780 54,450 504,610 208, 900 $713,510 Required a. Convert the static budget into a flexible budget. b. Calculate the variances Complete this question by entering your answers in the tabs below. Required A Requirejto Calculate the variances. (Indicate the effect of each variance by selecting "F" for favorable, *u* for unfavorable, and "None" for no effect (1.e., zero variance).) Variances Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started