Comprehensive: Master Budgets, Variances, Performance Evaluation 3a. Compute the cost and efficiency variances for direct materials and direct labor. FU DM Col Variance: DM EMicient Variance During 2019, Sudsy Soap recorded the following cost data: Standard Cost Information FVU DL Cost Variance: DL Efficiency Variance: Direct Materials Direct Labor Variable MOH Fixed MOH Static Budget Amount: Quantity 3 lbs per jug 0.30 hours per jug 0.30 hours per jug 0.30 hours per jug Cost 52 per lb $12 per hour $12 per hour $21.00 per hour $38,340.00 36. For manufacturing overhead, compute the variable overtread cost and efficiency variances and the fixed overhead cost and von variances. FU HU Actual Cost Information Direct Materials Direct Labor Variable MOH Fixext MOH 20.700 lbs 2.0G0 hours 2.060 hours VOH Cost Variance: VOH Efficient Variance! $2.50 per lb $12.40 per hour $11.60 per hour $36,540.00 TOH Cost Variance: VOH Volume Variance: 3a. Compute the cost and efficiency variances for direct materials and direct labor. 3c. Prepare the standard cost income statement for 2019. 3b. For manufacturing overticad, compute the variable overhead cost and efficiency variances and the fixed overhead cost and volume variances Sudsy Days Standard Cost Incorne Statement Tor the Year Ended December 31, 2019 3c. Prepure the standard cost income statement for 2019, **Note that you may need to refer to data provided or calculated from Requirements 1 and/or 2. Net Sales Revenue Standard COGS Standard Manufacturing Cost Variances: DM Cost Variance DM EMiciency Variance DL Cost Variance DL Efficiency Variance VOH Cost Variance VOH Miciency Variance TOH Cost Variance FOH Volume Variance Total Manufacturing Cost Variances COGS @ Actual cost Gross Profit S&A Expenses: Variable Fixed Operating Income G Q Search 4a. Calculate Sudsy's ROI for 2019. To calculate averige total assets, use the December 31, 2018, balance sheet for the beginning b and the budgeted balance sheet for December 31, 2019, for the ending balance. Round all of your answers to four decimal places. Decimal ROI: Using the data that you have compiled and or calculated in the previous requirements: a. Calculate Sudsy's ROI for 2019. To calculate averuge total assets, use the December 31, 2018, balance sheet for the beginning balance and the budgcted balance sheet for December 31, 2019, for the ending balance. Round all of your answers to four decimal places. b. Calculate Sudsy's profit margin ratio for 2019. Interpret your results. c. Calculate Sudsy's asset turnover ratio for 2019. Intcrprct your results. d. Use the expanded ROI formula to confirm your results from Requirement 10. Intcrpeet your results. e. Sudsy's management has specified a 30$, target rate of return. Calculate Sudsey's RI for 2019. Interpret your results, 45. Calculate Sudsy's profit margin ratio for 2019. Interpret your results, Decimal Profit Margin Ratio: Interpretation 4c. Calculate Sudsy's asset turnover ratio for 2019. Interpret your results Decimal Asset Tumover Ratio: Interpretation: 4d. Use the expanded ROI formula to confirin your results from Requirement 10. Interpret your results. Expanded ROL: Interpretation: 4e. Sucsy's management has specified a 30% target fate of return. Calculate Sudsey's RI for 2019. Interpret your results. -27.240 Residual Income: Interpretation: Comprehensive: Master Budgets, Variances, Performance Evaluation Sudsy Days sold 7000 Soap jugs in 2019, and its actual operating income was as follows: Sudsy Days Balance Sheet December 31, 2019 $630,000.00 $94,890.00 36,540 131,430 498,570 Net Sales Revenue Cost of Goods Sold: Variable Fixed Gross Profit Selling & Admin Expenses: Variable Fixed Operating Income Other income and (Expenses): Interest Expense Income Before Income Taxes Income Tax Expense Net Income 12,600 61,400 74,000 424,570 -425 424,145 22,000 $402,145.00 2a. Prepare a flexible budget performance report through operating income for 2019. Show product costs separately from selling and administrative costs. To simplify the calculations due to sets in beginning inventory having a different cost than those produced and sold in 2019, assume the following product costs: Static Budget Flexible Budget Variable Fixed 84,240 93,940 Total 38,340 38,340 122,580 132,280
