Hello. Please answer all the parts of this for me. Please show work if can so I better understand how to do the problem. Appreciate it thanks!
AutoSave . Off) H BMercer Project 5 - Saved Search Ben Mercer BM X File Home Insert Page Layout Formulas Data Review View Help Share Comments & Cut Arial 2 ~ A" A E AutoSum [ Copy ay Wrap Text General AY O Paste Fill 4 Format Painter BIU FDA Merge & Center $ ~ % 9 00 20 Conditional Format as Cell Insert Delete Format Clear Sort & Find & Ideas Formatting * Table Styles Filter ~ Select Clipboard Font Alignment Number Styles Cells Editing Ideas A9 X Y For the quarter ended June 30 H M N 0 F Q R S 2 AA AB AC AD AE AF 34 Required: 1. Prepare a revised budget for June using the flexible performance approach. You need to use cell reference to calculate the variance . You must designate a variance for each cost category and for the total cost: U or F. 38 The variable and fixed cost labeling has been set correctly, so do not change this around. 39 Please use the template I have set out below to complete this Performance report. 40 2. Explain to the supervisor of the baking department the reasons for your changes and discuss the issue of controlling costs. 41 3. Identify variances in the report you prepared that should be investigated? Explain in detail why these variances should be investigated 42 43 Solution: 44 1. Revised flexible performance report. 45 46 Cookie Company 47 Overhead flexible performance report-Baking department For the quarter ended June 30 48 49 50 Units Actual Budget Variance U or F 51 53 62 Variable Overhead 54 Indirect materials Rework time 55 56 Itilities Machine setup Total variable overhead cost 58 59 Fixed overhead Costs 60 Maintenance 61 62 Depreciation Inspection 63 Total fixed overhead cost 64 Total overhead cost 65 66 2. Explain to the supervisor of the baking department the reasons for your changes and discuss the issue of controlling costs. 68 69 70 71 72 3. Identify variances in the report you prepared that should be investigated? Explain in detail why these variances should be investigated. 73 74 75 76 77 78 79 OverviewProject5 Part 1 Part2 |Part 3| + - - - + 55% Type here to search e P X W 9 9:55 PM 8/5/2020AutoSave . Off) H BMercer Project 5 - Saved Search Ben Mercer BM X File Home Insert Page Layout Formulas Data Review View Help Share Comments & Cut Arial 2 ~ A" A ay Wrap Text General AutoSum [ Copy AY O 4 Paste Merge & Center $ ~ % 9 00 20 Conditional Format as Cell Insert Delete Format Fill Sort & Find & Ideas Format Painter Formatting * Table Styles Clear Filter ~ Select Clipboard Font Alignment Number Styles Cells Editing Ideas A9 X Y For the quarter ended June 30 G M N 0 P Q R S U W Part 1 2 Several years ago the Cookie Company developed a comprehensive budgeting system for profit planning and 3 control purposes. The line supervisors have been very happy with the system and with the reports being prepared 4 on their performance, but both middle and upper management have expressed considerable dissatisfaction with the 5 information being generated by the system. The following is the overhead performance report for the Baking department. Cookie Company Overhead performance report-Baking department For the quarter ended June 30 10 11 Actual Budget Variance U or F 12 Units 34,000 35,000 1,000 U 13 14 Variable Overhead 15 Indirect materials 35000 36000 1000 F 16 Rework time 8400 8500 100 F 17 Utilities 68000 69,00 1000 F 18 Machine setup 17500 18000 500 F 19 Total variable overhead cost 128900 31500 2600 F 20 Fixed overhead Costs Maintenance 79500 80000 500 F Depreciation 10000 9800 200 U Inspection 60100 60000 100 U Total fixed overhead cost 149600 14980 200 F 26 Total overhead cost 278500 281300 2800 F 27 28 After receiving a copy of this overhead performance report, the supervisor of the baking department stated, "These reports 29 are super. It makes me feel really good to see how well things are going in my department. I can't understand why those people 30 upstairs complain so much." 31 The company's vice president has hired you as a consultant to develop a new overhead performance report for the quarter for the 32 Baking department. After you have developed this new performance report, explain to the supervisor of the baking department the reasons 33 for your changes and discuss the issue of controlling costs. 34 5 Required: 36 1. Prepare a revised budget for June using the flexible performance approach. OverviewProject5 Part 1 Part2 |Part 3 + - + 70% Type here to search e P W 9:55 PM 8/5/2020
