QUESTION 1

Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $279.000. During June, the company produced and sold 11,700 units and Incurred actual variable costs of $360,000 and actual fixed costs of $294.000. Actual sales for June were $975,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) XION CO. Flexible Budget Report For Month Ended June 30 Flexible Budget Actual Results Variances Fav/Unf.A manufactured product has the following Information for August. Standard Actual Direct materials 2 1bs. per unit @ $12.00 per 1b. Direct labor 0.5 hours per unit @ $92 per hour Overhead $126 per direct labor hour Units manufactured 15, 880 Total manufacturing costs $2, 096,408 (1) Compute the standard cost per unit. (2) Compute the total budgeted cost for production In August. (3) Compute the total cost variance for August. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the total budgeted cost for production in August. Total budgeted costA manufactured product has the following Information for August. Standard Actual Direct materials 2 1bs. per unit @ $12.00 per 1b. Direct labor 0.5 hours per unit @ $92 per hour Overhead $126 per direct labor hour Units manufactured 15, 808 Total manufacturing costs $2, 096,408 (1) Compute the standard cost per unit. (2) Compute the total budgeted cost for production In August. (3) Compute the total cost variance for August. (Indicate the effect of each variance by selecting for favorable. unfavorable, and no variance) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the total cost variance for August. Indicate whether the cost variance is favorable, unfavorable or no variance. Cost varianceA manufactured product has the following Information for August. Standard Actual Direct materials 2 1bs. per unit @ $12.00 per 1b. Direct labor 9.5 hours per unit @ $92 per hour Overhead $126 per direct labor hour Units manufactured 15, 803 Total manufacturing costs $2, 096, 408 (1) Compute the standard cost per unit. (2) Compute the total budgeted cost for production In August. (3) Compute the total cost variance for August. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the standard cost per unit. Direct materials Direct labor Overhead Total