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Multiple Product Performance Report Storage Products manufactures two models of DVD storage cases: regular and deluxe. Presented is standard cost information for each model: Cost

Multiple Product Performance Report Storage Products manufactures two models of DVD storage cases: regular and deluxe. Presented is standard cost information for each model:

Cost Components Regular Deluxe
Direct materials
Lumber 2 board feet $3 = $6.00 3 board feet $3 = $9.00
Assembly kit = 2.00 = 2.00
Direct labor 1 hour $4 = 4.00 1.25 hours $4 = 5.00
Variable overhead 1 labor hr. $2 = 2.00 1.25 labor hrs. $2 = 2.50
Total $14.00 $18.50

Budgeted fixed manufacturing overhead is $16,000 per month. During July, the company produced 7,000 regular and 3,000 deluxe storage cases while incurring the following manufacturing costs:

Direct materials $90,000
Direct labor 44,000
Variable overhead 18,000
Fixed overhead 18,500
Total $170,500

Prepare a flexible budget performance report for the July manufacturing activities.

Actual Flexible Budget Flexible Budget Variance
Volume
Regular
Deluxe
Variable costs
Direct materials
Lumber
Regular
Deluxe
Assembly kits
Regular
Deluxe
Total FU
Direct labor
Regular
Deluxe
Total FU
Variable overhead
Regular
Deluxe
Total FU
Fixed overhead FU
Total FU

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