Question
Several Product Performance Report Storage Products manufactures two models of DVD storage cases: regular and deluxe. Presented is standard cost information for each model: Cost
Several Product Performance Report
Storage Products manufactures two models of DVD storage cases: regular and deluxe. Presented is standard cost information for each model:
Cost ComponentsRegularDeluxe Direct materials Lumber 2 board feet $3 = $6.00 3 board feet $3 = $9.00 Assembly kit = 2.00 = 2.00 Direct labor 1 hour $4 = 4.00 1.25 hours $4 = 5.00 Variable overhead 1 labor hr. $2 = 2.00 1.25 labor hrs. $2 = 2.50 Total $14.00 $18.50
Budgeted fixed manufacturing overhead is $16,000 per month. During July, the company produced 7,000 regular and 3,000 deluxe storage cases while incurring the following manufacturing costs:
Direct materials $90,000 Direct labor 44,000 Variable overhead 18,000 Fixed overhead 18,500 Total $170,500
Prepare a flexible budget performance report for the July manufacturing activities.
ActualFlexible BudgetFlexible Budget Variance Volume Regular Answer
Answer
Deluxe Answer
Answer
Variable costs Direct materials Labor Regular Answer
Deluxe Answer
Assembly kits Regular Answer
Deluxe Answer
Total Answer
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FU Direct labor Regular Answer
Deluxe Answer
Total Answer
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FU Variable overhead Regular Answer
Deluxe Answer
Total Answer
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Answer
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FU Fixed overhead Answer
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FU Total Answer
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FU
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Financial Accounting A Business Process Approach
Authors: Jane L Reimers
2nd Edition
131473867, 978-0131473867
