Picture #2

Question:

Using the numbers in picture #1, complete all tables in picture #2. Hint: Only the squares with the light green need to be filled in; All the squares that are white are to be blank and left alone.

Homework \#8 Problem: Doyle \& Company uses a standard costing system. The firm provides the following information about the standard cost per unit for their only product: During April, the firm's accounting system reported the following actual income statement: The firm provides the following additional data: - For April, the firm planned to make 20,000 units and did not plan to increase or decrease its inventory. - During April, 20,600 units were made but only 20,400 units were sold. - The firm's fixed overhead spending variance was $3,000F for April. - The firm's variable SGA cost variance was $5,107.50 U for April. - The firm allocates variable SGA costs using the number of units as its cost driver. Required: Respond to the ten questions below related to this problem. You have unlimited attempts on this homework assignment, where your highest score will be recorded as your grade. \begin{tabular}{|c|c|c|c|c|} \hline \multirow{2}{*}{ STANDARD COST DATA } & & & & MANUFACTURING COST VARIANCES \\ \hline & Per unit & Total & & Variable mfg. cost variances \\ \hline Price & & & & + Fixed MOH spending variance \\ \hline Variable mfg. cost & & & & = Mfg cost variances (other than PVV) \\ \hline FMOH & & & & + Production volume variance \\ \hline Variable SGA & & & & = Total mfg. cost variances \\ \hline \multicolumn{5}{|l|}{ Fixed SGA } \\ \hline \multirow[t]{2}{*}{ Profit } & & & & SGA COST VARIANCES \\ \hline & & & & Variable SGA cost variance \\ \hline Gross margin & & & & + Fixed SGA cost variance \\ \hline Contribution margin & & & & = Total SGA cost variances \\ \hline \multirow[t]{2}{*}{ GROSS MARGIN FORMAT } & & & & BUDGET TO ACTUAL RECONCILIATION: GROSS MARGIN FORMAT \\ \hline & Budget & Flexible budget & Actual & Budgeted profit (GM format) \\ \hline \multicolumn{4}{|l|}{ Units made } & +Sales volume variance \\ \hline \multicolumn{4}{|l|}{ Units sold } & +FMOH put into inventory \\ \hline \multicolumn{4}{|l|}{ Revenue } & = Profit in flexible budget (GM format) \\ \hline \multicolumn{4}{|l|}{ COGM (at standard) } & + Sales price variance \\ \hline \multicolumn{4}{|l|}{ Change in inventory (at standard) } & + Variable mfg. cost variances \\ \hline \multicolumn{4}{|l|}{ Production volume variance } & + Fixed MOH spending variance \\ \hline \multicolumn{4}{|l|}{ Mfg. cost variances (other than PVV) } & +Variable SGA cost variance \\ \hline \multicolumn{4}{|l|}{ Gross margin } & + Fixed SGA cost variance \\ \hline \multicolumn{4}{|l|}{ Total SGA cost (at standard) } & = Actual profit (GM format) \\ \hline Total SGA cost variances & & & & \\ \hline Profit & & & & \\ \hline FMOH put into inventory & & & & \\ \hline CONTRIBUTION MARGIN FORMAT & & & & BUDGET TO ACTUAL RECONCILIATION: CONTRIBUTION MARGIN FORMAT \\ \hline & Budget & Flexible budget & Actual & Budgeted profit (CM format) \\ \hline Units made & & & & +Sales volume variance \\ \hline Units sold & & & & = Profit in flexible budget (CM format) \\ \hline Revenue & & & & +Sales price variance \\ \hline Variable COGM (at standard) & & & & + Variable mfg. cost variances \\ \hline Variable SGA (at standard) & & & & + Fixed MOH spending variance \\ \hline Change in inventory (at standard) & & & & + Variable SGA cost variance \\ \hline Variable mfg. cost variances & & & & + Fixed SGA cost variance \\ \hline Variable SGA cost variance & & & & = Actual profit (CM format) \\ \hline Contribution margin & & & & \\ \hline Fixed MOH cost (at standard) & & & & \\ \hline Fixed SGA cost (at standard) & & & & \\ \hline Fixed MOH spending variance & & & & \\ \hline Fixed SGA cost variance & & & & \\ \hline Profit & & & & \\ \hline CM TO GM RECONCILIATION & & & & \\ \hline & Budget & Flexible budget & Actual & \\ \hline Profit under the CM format & & & & \\ \hline + FMOH put into inventory & & & & \\ \hline= Profit under GM format & & & & \\ \hline \end{tabular} Homework \#8 Problem: Doyle \& Company uses a standard costing system. The firm provides the following information about the standard cost per unit for their only product: During April, the firm's accounting system reported the following actual income statement: The firm provides the following additional data: - For April, the firm planned to make 20,000 units and did not plan to increase or decrease its inventory. - During April, 20,600 units were made but only 20,400 units were sold. - The firm's fixed overhead spending variance was $3,000F for April. - The firm's variable SGA cost variance was $5,107.50 U for April. - The firm allocates variable SGA costs using the number of units as its cost driver. Required: Respond to the ten questions below related to this problem. You have unlimited attempts on this homework assignment, where your highest score will be recorded as your grade. \begin{tabular}{|c|c|c|c|c|} \hline \multirow{2}{*}{ STANDARD COST DATA } & & & & MANUFACTURING COST VARIANCES \\ \hline & Per unit & Total & & Variable mfg. cost variances \\ \hline Price & & & & + Fixed MOH spending variance \\ \hline Variable mfg. cost & & & & = Mfg cost variances (other than PVV) \\ \hline FMOH & & & & + Production volume variance \\ \hline Variable SGA & & & & = Total mfg. cost variances \\ \hline \multicolumn{5}{|l|}{ Fixed SGA } \\ \hline \multirow[t]{2}{*}{ Profit } & & & & SGA COST VARIANCES \\ \hline & & & & Variable SGA cost variance \\ \hline Gross margin & & & & + Fixed SGA cost variance \\ \hline Contribution margin & & & & = Total SGA cost variances \\ \hline \multirow[t]{2}{*}{ GROSS MARGIN FORMAT } & & & & BUDGET TO ACTUAL RECONCILIATION: GROSS MARGIN FORMAT \\ \hline & Budget & Flexible budget & Actual & Budgeted profit (GM format) \\ \hline \multicolumn{4}{|l|}{ Units made } & +Sales volume variance \\ \hline \multicolumn{4}{|l|}{ Units sold } & +FMOH put into inventory \\ \hline \multicolumn{4}{|l|}{ Revenue } & = Profit in flexible budget (GM format) \\ \hline \multicolumn{4}{|l|}{ COGM (at standard) } & + Sales price variance \\ \hline \multicolumn{4}{|l|}{ Change in inventory (at standard) } & + Variable mfg. cost variances \\ \hline \multicolumn{4}{|l|}{ Production volume variance } & + Fixed MOH spending variance \\ \hline \multicolumn{4}{|l|}{ Mfg. cost variances (other than PVV) } & +Variable SGA cost variance \\ \hline \multicolumn{4}{|l|}{ Gross margin } & + Fixed SGA cost variance \\ \hline \multicolumn{4}{|l|}{ Total SGA cost (at standard) } & = Actual profit (GM format) \\ \hline Total SGA cost variances & & & & \\ \hline Profit & & & & \\ \hline FMOH put into inventory & & & & \\ \hline CONTRIBUTION MARGIN FORMAT & & & & BUDGET TO ACTUAL RECONCILIATION: CONTRIBUTION MARGIN FORMAT \\ \hline & Budget & Flexible budget & Actual & Budgeted profit (CM format) \\ \hline Units made & & & & +Sales volume variance \\ \hline Units sold & & & & = Profit in flexible budget (CM format) \\ \hline Revenue & & & & +Sales price variance \\ \hline Variable COGM (at standard) & & & & + Variable mfg. cost variances \\ \hline Variable SGA (at standard) & & & & + Fixed MOH spending variance \\ \hline Change in inventory (at standard) & & & & + Variable SGA cost variance \\ \hline Variable mfg. cost variances & & & & + Fixed SGA cost variance \\ \hline Variable SGA cost variance & & & & = Actual profit (CM format) \\ \hline Contribution margin & & & & \\ \hline Fixed MOH cost (at standard) & & & & \\ \hline Fixed SGA cost (at standard) & & & & \\ \hline Fixed MOH spending variance & & & & \\ \hline Fixed SGA cost variance & & & & \\ \hline Profit & & & & \\ \hline CM TO GM RECONCILIATION & & & & \\ \hline & Budget & Flexible budget & Actual & \\ \hline Profit under the CM format & & & & \\ \hline + FMOH put into inventory & & & & \\ \hline= Profit under GM format & & & & \\ \hline \end{tabular}