Question
Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Budget Performance ReportVice President, Production For the Month
Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow:
| Plant | Actual | Budget | Over Budget | (Under) Budget | |
|---|---|---|---|---|---|
| Eastern Region | $360,700 | $360,700 | $0 | ||
| Central Region | 257,100 | 259,700 | (2,600) | ||
| Western Region | (g) | (h) | (i) | ||
| $(j) | $(k) | $(l) | $(2,600) |
| Department | Actual | Budget | Over Budget | (Under) Budget |
|---|---|---|---|---|
| Chip Fabrication | $(a) | $(b) | $(c) | |
| Electronic Assembly | 95,500 | 94,270 | 1,230 | |
| Final Assembly | 149,620 | 150,830 | $(1,210) | |
| $(d) | $(e) | $(f) | $(1,210) |
| Cost | Actual | Budget | Over Budget | (Under) Budget |
|---|---|---|---|---|
| Factory wages | $23,120 | $21,610 | $1,510 | |
| Materials | 70,930 | 71,430 | $(500) | |
| Power and light | 3,690 | 3,100 | 590 | |
| Maintenance | 8,900 | 8,130 | 770 | |
| $106,640 | $104,270 | $2,870 | $(500) |
a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above.
| Amount | Amount |
|---|---|
| a. $fill in the blank 1 | g. $fill in the blank 2 |
| b. $fill in the blank 3 | h. $fill in the blank 4 |
| c. $fill in the blank 5 | i. $fill in the blank 6 |
| d. $fill in the blank 7 | j. $fill in the blank 8 |
| e. $fill in the blank 9 | k. $fill in the blank 10 |
| f. $fill in the blank 11 | l. $fill in the blank 12 |
b. Complete the following memo to Randi Wilkes, vice president of production for Delmar Company, explaining the performance of the production division for June.
MEMO To: Randi Wilkes, Vice President of Production
The fill in the blank 1 of 4
Eastern RegionCentral RegionWestern RegionWestern Region
plant has experienced a budget overrun. Its budget reveals that the fill in the blank 2 of 4
Chip FabricationElectronic AssemblyFinal AssemblyChip Fabrication
Department caused the majority of the budget overrun. The supervisor of the fill in the blank 3 of 4
Chip FabricationElectronic AssemblyFinal AssemblyChip Fabrication
Department should investigate the reasons for the budget overruns in fill in the blank 4 of 4
factory wages, materials, and maintenancematerials, power and light, and maintenancefactory wages, power and light, and maintenancefactory wages, power and light, and maintenance
.
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Auditing A Complete Guide Practical Tools For Self Assessment
Authors: Gerardus Blokdyk
1st Edition
0655424571, 978-0655424574
