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Performance Report Bowling Company provided the following information for last year. Master Budget Actual Data Budgeted production 3,600 3,400 units Direct materials: 6 pounds @
Performance Report
Bowling Company provided the following information for last year.
Master Budget | Actual Data | ||
Budgeted production 3,600 | 3,400 | units | |
Direct materials: | |||
6 pounds @ 0.8 per pound | $6,800 | ||
Direct labor: | |||
0.3 hr. @ $16 per hour | 30,500 | ||
VOH: | |||
0.3 hr. @ $2.40 | 4,200 | ||
FOH: | |||
Materials handling, $6,300 | 6,300 | ||
Depreciation, $2,100 | 2,100 |
1. Calculate the budgeted amounts for each cost category listed above for the 3,600 budgeted units, then give the total below.
Direct materials | $ |
Direct labor | $ |
Variable overhead | $ |
Fixed overhead: | |
Materials handling | $ |
Depreciation | $ |
Total | $ |
2. Prepare a performance report using a budget based on expected production. In the variance type column, select "F" for favorable and "U" for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column.
Bowling Company | ||||
Performance Report | ||||
Actual | Budgeted | Variance | Variance Type (F, U, N) | |
Units produced | U | |||
Direct materials | $ | $ | $ | F |
Direct labor | U | |||
Variable overhead | U | |||
Fixed overhead: | ||||
Materials handling | N | |||
Depreciation | N | |||
Total | $ | $ | $ | U |
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