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Please help followed by the format!!! It would be nice if there were a process Thank you! Vaughn manufactures aluminum canoes. In planning for the

Please help followed by the format!!! It would be nice if there were a process

Thank you!

Vaughn manufactures aluminum canoes. In planning for the coming year, CFO Alexis King is considering three different sales targets: 2,500 canoes, 3,000 canoes, and 3,500 canoes. Canoes sell for $809 each. The standard variable cost information for a canoe is as follows.

Direct materials $ 325
Direct labor 195
Variable overhead
Utilities 35
Indirect material 30
Indirect labor

60
Total $ 645

Annual fixed overhead cost is expected to be:

Maintenance $ 18,490
Depreciation 36,500
Insurance 25,920
Rent

28,550
Total $ 109,460

Alexis King chose to prepare a static budget based on sales of 3,000 canoes. Actual sales were 3,100 canoes at a price of $859 each. The company incurred the following costs for the year:

Direct material $ 994,300
Direct labor 575,800
Variable overhead 398,200
Fixed overhead

116,660
Total $ 2,084,960

Actual Results Flexible Budget Variance Flexible Budget Sales Volume Variance Static Budget
Unit sales

UnfavorableFavorableNot Applicable

Not ApplicableFavorableUnfavorable

OverheadDirect laborTotal variable expensesVariable expensesContribution marginSales revenueTotal fixed expensesOperating incomeDirect material

$

$

FavorableUnfavorableNot Applicable

$

$

FavorableUnfavorableNot Applicable

$

LessAdd

Direct materialTotal fixed expensesTotal variable expensesOperating incomeOverheadContribution marginVariable expensesSales revenueDirect labor

:

Direct labor Direct material Overhead Total variable expenses Contribution margin Total fixed expenses Operating income Sales revenue Variable expenses

Not ApplicableFavorableUnfavorable

FavorableUnfavorableNot Applicable

Overhead Operating income Contribution margin Total variable expenses Direct material Direct labor Sales revenue Total fixed expenses Variable expenses

UnfavorableNot ApplicableFavorable

Not ApplicableFavorableUnfavorable

Operating income Variable expenses Contribution margin Total variable expenses Direct labor Total fixed expenses Sales revenue Direct material Overhead

Not ApplicableUnfavorableFavorable

Not ApplicableFavorableUnfavorable

Contribution marginVariable expensesOverheadTotal variable expensesDirect materialTotal fixed expensesSales revenueOperating incomeDirect labor

FavorableUnfavorableNot Applicable

Not ApplicableUnfavorableFavorable

Total variable expensesVariable expensesDirect materialTotal fixed expensesDirect laborOverheadContribution marginOperating incomeSales revenue

UnfavorableNot ApplicableFavorable

Not ApplicableFavorableUnfavorable

Total variable expensesOperating incomeOverheadDirect materialTotal fixed expensesSales revenueContribution marginVariable expensesDirect labor

UnfavorableFavorableNot Applicable

UnfavorableNot ApplicableFavorable

Operating incomeContribution marginSales revenueDirect materialOverheadDirect laborTotal variable expensesVariable expensesTotal fixed expenses

$

$

Not ApplicableFavorableUnfavorable

$

$

FavorableUnfavorableNot Applicable

$

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