Micro Miller Company?s budgeted sales for April were estimated at $700,000, sales commissions at 4% of sales, and the sales manager's salary at $80,000. Shipping expenses were estimated at 1% of sales and miscellaneous selling expenses were estimated at $1,000, plus 0.5% of sales.

Determine the budgeted selling expenses on a flexible budget for April.

Budgeted Selling Expenses

$

Brief Exercise 170 Cyber Construction's manufacturing costs for August when production was 1,000 units appear below: Direct material Direct labor Variable overhead Factory depreciation Factory supervisory salaries Other fixed factory costs $12 per unit $7,500 6,000 9,000 7,800 2,500 Compute the flexible budget manufacturing cost amount for a month when 900 units are produced. $ Flexible Budget Manufacturing Cost Brief Exercise 171 Micro Miller Company's budgeted sales for April were estimated at $700,000, sales commissions at 4% of sales, and the sales manager's salary at $80,000. Shipping expenses were estimated at 1% of sales and miscellaneous selling expenses were estimated at $1,000, plus 0.5% of sales. Determine the budgeted selling expenses on a flexible budget for April. $ Budgeted Selling Expenses Brief Exercise 172 Point, Inc. produces men's shirts. The following budgeted and actual amounts are for 2013: Cost Direct materials Direct labor Fixed overhead Budget at 2,500 units Actual Amounts at 2,800 units $65,000 $75,000 70,000 35,000 78,000 34,500 Prepare a performance report for Point, Inc. for the year. POINT, INC. Manufacturing Performance Budget Report For the Year Ended December 31, 2013 Budget Actual Differences $ Direct Materials Direct Labor $ $ Fixed Overhead $ $ $ Total Costs Exercise 180 Clark Company's master budget reflects budgeted sales information for the month of June, 2013, as follows: Product A Product B Budgeted Quantity 40,000 48,000 Budgeted Unit Sales Price $7 $9 During June, the company actually sold 39,000 units of Product A at an average unit price of $7.10 and 49,600 units of Product B at an average unit price of $8.90. Prepare a Sales Budget Report for the month of June for Clark Company which shows whether the company achieved its planned objectives. CLARK COMPANY Sales Budget Report For the Month Ended June 30, 2013 Difference Product Line Budget Favorable (F) Unfavorable (U) Not Applicable (NA) Actual $ $ $ $ $ $ Product A Product B Total Sales Exercise 181 Beal Manufacturing Co.'s static budget at 12,000 units of production includes $72,000 for direct labor and $12,000 for direct materials. Total fixed costs are $48,000. (a) Determine how much would appear on Beal's flexible budget for 2013 if 18,000 units are produced and sold. $ Total Cost Exercise 201 Sonic, Inc. is planning to produce 2,500 units of product in 2013. Each unit requires 3 pounds of materials at $6 per pound and a half hour of labor at $16 per hour. The overhead rate is 75% of direct labor. assignment Compute the budgeted amounts for 2013 for direct materials to be used, direct labor, and applied overhead. $ Direct Materials $ Direct Labor $ Overhead Don't show me this message again for the assignment Compute the standard cost of one unit of product. $ Standard Cost Brief Exercise 196 In October, Glazier Inc. reports 42,000 actual direct labor hours, and it incurs $194,000 of manufacturing overhead costs. Standard hours allowed for the work done is 40,000 hours. The flexible manufacturing overhead budget shows that budgeted costs are $3.80 variable per direct labor hour and $60,000 fixed. Compute the manufacturing overhead controllable variance. Identify whether the variance is favorable or unfavorable? $ Total manufacturing overhead controllable variance Exercise 204 Riggins, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Riggins estimated 9,500 tybos would be produced in March. Riggins has established the following material and labor standards to produce one tybo: Standard Quantity Direct materials Direct labor Standard Price 2.5 pounds $3 per pound 0.6 hours $10 per hour During March 2013, the following activity was recorded by the company relating to the production of tybos: 1. 2. 3. 4. The company produced 9,000 units during the month. A total of 24,000 pounds of materials were purchased at a cost of $66,000. A total of 24,000 pounds of materials were used in production. 5,000 hours of labor were incurred during the month at a total wage cost of $55,000. Calculate the following variances for March for Riggins, Inc.. Identify whether the variance is favorable or unfavorable? $ (a) Materials Price Variance $ (b) Materials Quantity Variance $ (c) Labor Price Variance $ (d) Labor Quantity Variance Exercise 223 Fill in the appropriate amounts in the following Adam Corporation variance report. (Round actual and standard price to 2 decimal places, e.g. 52.75.) ADAM CORPORATION Variance ReportPurchasing Department for Week Ended January 9, 2013 Type of Material s Quantity Purchased Brown Actual Price $5.25 Standard Price $5.00 Price Variance Explanatio n $6,00 0 Price increase 1,600 Unfavorable Rush order lbs. Green 8,000 oz. White 22,000 units 3.25 $0.45