I need someSpreadsheet Assignment/Computer Lab questions(MS Excel) for practisefor myCost Accounting subject. (Accy211, UOW) Textbook Used: Cost Accounting- A Managerial Emphasis (PEARSON) , Horngren,Datar,Rajan,Wynder,Maguire,Tan CHAPTER THE HELP IS NEEDED IN: 1)Allocation of Support Department Costs, Common Costs and Revenues.

An example of previous weeks Lab assignment has been attached.

eLearning Question 1 Tip Top flight school offers flying lesson at small municipal airport. The school's owner and manager has been attempting to evaluate performance and control costs using a variance report that compares the planning budget to actual results. A recent variance report appear below: TipTop Flight School Variance Report For the Month Ended July 31 Lessons Revenue Expenses Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration Total expenses Net operating income Planning Budget 150 Actual Results 155 $33,000 $33,900 9,750 5700 2250 2330 1550 3390 24970 8030 9,870 5890 2750 2450 1540 3320 25820 8080 Variances 900 F 120 190 500 120 10 70 850 50 U U U U F F U F After several months of using such variance reports, the owner has become frustrated. For example, she is quite confident that instructor wages were very tightly controlled in July, but the report shows an unfavorable variance. The planning budget was developed using the following formulas, where q is the number of lessons sold. Revenue Instructor wages Aircraft depreciation Fuel Maintenance Ground facility expenses Administration Cost Formulas $220q $65q $38q $15q $530+$12q $1250+$2q $3240+$1q Required: 1 Should the owner feel frustrated with the variance reports? Explain. 2 Prepare a flexible budget performance report for the school for July 3 Evaluate the school's performance for July eLearning Question 1 Requirement 1: The variance report should not be used to evaluate how well costs were controlled. In July, the planning budget was based on 150 lessons, but actual results are for 155 lessons. Therefore, the actual revenues and many of the actual costs should have different from what was budgeted at the beginning of the period. Requirement 2: TipTop Flight School Flexible Budget Performance Report July 31July31 Lessons Formulas q Revenue $220q Instructor wages Aircraft depreciation Fuel Maintenance Ground facility exp Administration Total Net operating income $65q $38q $15q $530+$12q $1250+$2q $3240+$1q Planning Budget 150 33000 Activity Variances Flexible Budget 155 1100 F 9,750 $ (325) 5,700 (190) 2,250 (75) 2,330 (60) 1,550 (10) 3,390 (5) 24,970 (665) 8,030 435 Correct! Correct! U U U U U U U F 34100 $ Spending Variances 200 10,075 $ 205 5,890 2,325 (425) 2,390 (60) 1,560 20 3,395 75 25,635 (185) 8,465 385 Correct! Correct! Requirement 3: The activity variance for the net operatig income was 435 favourable. It means that the increase in activity from 150 lessons to 155 lessons, the budgeted net operating income should have been 435 over budget. However it wasn't. The budgeted net operating income was 8030 and actual operating net income was 8080, so up only 50. The spendinf variances for fuel was 425 unfavourable and may be due to the increase in the price of fuel that is beyond the owner/manager's control. re controlled. In July, the 155 lessons. Therefore, the om what was budgeted at Actual Results ### U 33,900 F U F U F F U F 9,870 5,890 2,750 2,450 1,540 3,320 25,820 8,080 Correct! It means that the increase in ncome should have been me was 8030 and actual s for fuel was 425 s beyond the eLearning Question 2 Frank Weston, supervisor of the Freemont Company's Machining Department, was visibly upset after being reprimanded for his department's poor performance over the prior month. The department's cost control report is given below: FREMONT COMPANY Machining Department Cost Control Report For the Month Ended June 30 Planning Budget 35,000 Machine-hours Direct labor wages Supplies Maintenance Utilities Supervision Depreciation Total $ $ 80,500 21,000 134,000 15,200 38,000 80,000 368,700 Actual Results 38,000 $ $ 86,100 23,100 137,300 15,700 38,000 80,000 380,200 Variances $ $ 5,600 2,100 3,300 500 11,500 U U U U U "I just can't understand all the red ink," Weston complained to the supervisor of another department. "When the boss called me in, I thought he was going to give me a pat on the back because I know for a fact that my department work more efficiently last month than it has ever worked before. Instead, he tore me apart. I thought for a minute that it might be over the supplies that were stolen out of our warehouse last month. But they only amounted to a couple of hundred dollars, and just look at this report. Everything is unfavorable. Direct labour wages and supplies are variable costs; supervision and depreciation are fixed costs; and maintenance and utilities are mixed costs. The fixed component of the budgeted maintenance cost is $92,000; the fixed component of the budgeted utilities cost $11,700. Required: 1 Evaluate the company's cost control report and explain why the variances were all unfavorable 2 Prepare a performance report that will help Mr. Weston's superiors assess how well costs were controlled in the Machining Department. eLearning Question 2 Requirement 1: Direct comparisons of budgeted to actual costs are valid only if the costs are fixed. The cost control report prepared by the company should not be used to evaluate how well costs were controlled. Requirement 2: FREMONT CORPORATION Machining Department Flexible Budget Performance Report For the Month Ended June 30 Planning Budget 38,000 Direct labor wag $ Supplies Maintenance Utilities Supervision Depreciation Total $ 80,500 21,000 134,000 15,200 38,000 80,000 368,700 Correct! Activity Variances $ (6,900) (1,800) (3,600) (300) $ (12,600) Correct! Flexible Budget ### U U U U U $ $ 87,400 22,800 137,600 15,500 38,000 80,000 $ 381,300 Correct! Spending Variances $ 1,300 (300) 300 (200) $ 1,100 Correct! Actual Results 38,000 F U F U $ 86,100 23,100 137,300 15,700 38,000 80,000 $ 380,200 Correct