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Greetings! I could use some assistance with the following exercise, creating a Performance Report. Preparing a performance report ; Refer to the information about Adams
Greetings! I could use some assistance with the following exercise, creating a Performance Report.
Preparing a performance report; Refer to the information about Adams Adventures given in Exercise 6.4. Alexis King chose to prepare a static budget based on sales of 1,800 canoes. Actual sales were 1,850 canoes at a price of $640 each. The company incurred the following costs for the year: | |
Direct material | $ 413,700.00 |
Direct labor | $ 205,200.00 |
Variable overhead | $ 167,800.00 |
Fixed overhead | $ 150,000.00 |
Total | $ 936,700.00 |
We need to create a performance report for the year that shows the flexible budget and sales volume variances. |
EXERCISE 6.4: IF NEEDED INFORMATION
Direct materials | $ 225.00 |
Direct labor | $ 110.00 |
Variable overhead | |
Utilities | $ 15.00 |
Indirect material | $ 45.00 |
Indirect labor | $ 30.00 |
Total | $ 425.00 |
Annual fixed overhead cost is expected to be: | |
Maintenance | $ 45,000.00 |
Depreciation | $ 36,000.00 |
Insurance | $ 28,000.00 |
Rent | $ 57,000.00 |
Total | $ 166,000.00 |
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