Tutor, again I'm needing your help! Im needing it before Wed.

ACC650Module5-RoybalR is the blank doc, Thank you so so much!

FreshPak Corporation manufactures two types of cardboard boxes used in shipping canned food, fruit, and vegetables. The canned food box (type C) and the perishable food box (type P) have the following material and labor requirements. Direct Material Paperboard Corrugating med. Direct Labor $ $ $ cost per Lb 0.20 0.10 12 Box C 30 20 0.25 Box P 70 30 0.5 The following manufacturing-overhead costs are anticipated for the next year. The predetermined overhead rate is based on a production volume of 495,000 units for each type of box. Manufacturing overhead is applied on the basis of direct-labor hours. Indirect material Indirect labor Utilities Property taxes Insurance Depreciation Total $ $ $ $ $ $ $ 10,500 50,000 25,000 18,000 16,000 29,000 148,500 The following selling and administrative expenses are anticipated for the next year. Salaries and fringe benefits of sales pers Advertising Management salaries and fringe benefits Clerical wages and fringe benefits Miscellaneous administrative expenses $ $ $ $ $ $ The sales forecast for the next year is as follows: 75,000 15,000 90,000 26,000 4,000 210,000 Volume Box C Box P Price per 100 500000 $ 90 500000 $ 130 The following inventory information is available for the next year. The unit production costs for each product are expected to be the same this year and next year. Finished Goods Box C Box P Inv. 1/1 Inv. 12/31 10000 5000 20000 15000 Raw Materials Paperboard Corrugating med. 15000 5000 5000 10000 Prepare a master budget for FreshPak Corporation for the next year. Assume an income tax rate of 40 percent. Include the following schedules. 1. Sales budget. 2. Production budget. 3. Direct-material budget. 4. Direct-labor budget. 5. Manufacturing-overhead budget. 6. Selling and administrative expense budget. 7. Budgeted income statement. ( Hint: To determine cost of goods sold, first compute the manufacturing cost per unit for each type of box. Include applied manufacturing overhead in the cost.) 1 Sales Budget Sales (units) Sales ($ per Unit) Sales Revenue Box C Box P 500000 500000 $ 0.90 $ 1.30 $ 450,000 $ 650,000 $ Total 1,100,000 2 Production Budget Sales Desired Ending Inv Total Units Needed Beg Inv Prod Reqs 3Raw Material Budget Paperboard Prod Reqs RM per box RM for prod Desired End RM Inv Total RM needs Beg RM Inv RM 2B Purchased Price - lb Cost of Purchases -P Box C 500000 5000 505000 10000 495000 Box P 500000 15000 515000 20000 495000 Box C 495000 0.3 148500 Box P 495000 0.7 346500 5000 Corrugating Box C Prod Reqs 495000 RM per box 0.2 RM for prod 99000 Desired End RM Inv 10000 Total RM needs Beg RM Inv 5000 RM 2B Purchased Price - lb $ 0.10 Cost of Purchases -C Total cost of RM Total 15000 $ 0.20 $ $ Box P 495000 0.3 148500 495000 5000 500000 15000 485000 0.20 97,000 Total $ $ 247500 10000 257500 5000 252500 0.10 $ 25,250 122,250 4 Direct Labor budget Prod Reqs Total DL Cost DL for Prod DL Rate Total DL Cost Box C 495000 0.0025 1237.5 Box P 495000 0.005 2475 5 Manufacturing Overhead Budget Indirect Material $ 10,500 Indirect Labor $ 50,000 Utilities $ 25,000 Property Taxes $ 18,000 Insurance $ 16,000 Depreciation $ 29,000 Total overhead $ 148,500 6 Selling and Administrative Expense Budget Salaries and fringe b $ 75,000 Advertising $ 15,000 Management salaries $ 90,000 Clerical wages and fr $ 26,000 Miscellaneous admini$ 4,000 $ 210,000 7 Budgeted Income Statement Sales Revenue - from sales budget $ 1,100,000 COGS Box C $ 105,000 Box P $ 215,000 $ 320,000 Gross Margin $ 780,000 Total $ $ 3712.5 12 44,550 Selling & Admin Expenses Income Before Taxes Income Tax Expense Net Income $ $ $ $ 210,000 570,000 228,000 342,000 7a Predetermined Overhead Rate Budgeted Manuf Ovrhd$ 148,500 $ Vol of Dir Labor Hrs 3712.5 40 7b Manufacturing Cost per Unit Direct Material Box C Box P Paperboard $ 0.06 $ Corrugating $ 0.02 $ Direct Labor $ 0.03 $ Applied Manuf Ovrhd $ 0.10 $ Manufacturing Cost $ 0.21 $ 0.14 0.03 0.06 0.20 0.43 The following data are the actual results for Marvelous Marshmallow Company for October. Actual output Actual variable overhead Actual fixed overhead Actual machine time $ $ 9000 Cases 405,000 122,000 40500 Mach. Hrs Standard cost and budget information for Marvelous Marshmallow Company follows: Standard variable-overhead rate Standard quantity of machine hours Budgeted fixed overhead Budgeted output $ $ 9.00 /mach hr 4 /case 120,000 /mo 10000 cases/mo 1. Use any of the methods explained in the chapter to compute the following variances. Indicate whether each variance is favorable or unfavorable, where appropriate. a. Variable-overhead spending variance. Veriable Overhead Spending Var Actual VO-(AH*SVR) $ 40,500 U b. Variable-overhead efficiency variance. VOH Efficeiency Variance SVR(AH-SH) $ 40,500 U c. Fixed-overhead budget variance. Fixed OH Budget AFOH-BFOH $ 2,000 U AFOH = PFOH*SAH $ 108,000 d. Fixed-overhead volume variance Fixed-overhead volume variance BFOH-AFOH $ 12,000 2. Build a spreadsheet: Construct an Excel spreadsheet to solve the preceding requirement. Show how the solution will change if the following information changes: actual output was 9,100 cases, and actual variable overhead was $395,000. VOH Spending Variance = ( SR - AR ) AH = ($9)x9100 x 4 - 395000 = 327600 - 395000 = 67400(Unfavourable) VOH Efficiency Variance = ( SH - AH ) SR = (4 x 9100 - 40500/9000 x 9100) x 9 = (36400 - 40950) = 4550(Unfavourabl Actual output Actual variable overhe $ Actual fixed overhead $ Actual machine time 9100 Cases 395,000 122,000 40500 Mach. Hrs Standard variable-over $ Standard quantity of Budgeted fixed overhe $ Budgeted output 9.00 /mach hr 4 /case 120,000 /mo 10000 cases/mo Veriable Overhead SpeActual VO-(AH*SVR) $ 30,500 VOH Efficeiency VariSVR(AH-SH) $ 36,900 Fixed OH Budget AFOH-BFOH $ 2,000 AFOH = PFOH*SAH $ 109,200 Fixed-overhead volume BFOH-AFOH $ 10,800 Name: 9-43 11-26 WHB Rachel Roybal ACC 650 Module 5 11302016 Identifying the correct Proper Proper format Well written amounts Calculations for numbers reponse 10.00 15.00 10.00 15.00 Score test test test test Total 25.00 25.00 - Format Legend Entry Points Checksums Feedback Score Corrected entry 50.00 Amt 10.00 9-43 Calc 15.00 Format Resp Total 25.00 - - FreshPak Corporation manufactures two types of cardboard boxes used in shipping canned food, fruit, and and the perishable food box (type P) have the following material and labor requirements. Direct materials per 100 boxes Paperboard Corrugating Direct Labor per 100 boxes Type C Type P 30 20 0.25 70 pounds 30 pounds 0.50 hours Cost Paperboard Corrugating $ $ 0.20 per LB. 0.10 per LB. Direct labor rate $ 12.00 per Hour The following manufacturing-overhead costs are anticipated for the next year. The predetermined overhead 495,000 units for each type of box. Manufacturing overhead is applied on the basis of direct-labor hours. Budgeted Labor Hours Indirect material Indirect labor Utilities Property taxes Insurance Depreciation Total 3,712.50 $ $ $ $ $ $ $ 10,500 50,000 25,000 18,000 16,000 29,000 148,500 The following selling and administrative expenses are anticipated for the next year. Salaries and Fringe Benefits - Sales Advertising Salaries and Fringe Benefits - Management Salaries and Fringe Benefits - Clerical Miscellaneous Administrative expenses Total $ $ $ $ $ $ 75,000 15,000 90,000 26,000 4,000 210,000 The sales forecast for the next year is as follows: Sales Volume Sales Price Type C 500,000 $ 90 The following inventory information is available for the next year. The unit production costs for each produc next year. Type C Expected Starting Inventory 10,000 Desired Ending Inventory 5,000 Paperboard 15,000 5,000 Expected Starting Inventory Desired Ending Inventory Income Tax Rate: 40% Required: Prepare a master budget for FreshPak Corporation for the next year. Include the followin 1. Sales budget. Type C Sales Boxes Sales Price/Box Sales Revenue $ - 2. Production budget. Type C Desired Ending Inventory Less: Expected Starting Inventory Change in inventory-Increase/(Decrease) Add: Sales Units Production - 3. Direct-material budget. Calculate raw materials used in Production Type C Production Pounds/unit Type C Type C Pounds Type P Production Pounds/unit Type P Type P Pounds Total Pounds Paperboard Calculate Raw Material Puchases Desired Ending Inventory Less: Expected Starting Inventory Change in inventory-Increase/(Decrease) Paperboard - - Production pounds Raw Materials purchased Price per Pound Purchases $ - 4. Direct-labor budget. Type C BoxesProduced Labor Hour/Unit Hours Rate Labor Cost $ - 5. Manufacturing-overhead budget. Budgeted Manufacturing Overhead Budgeted Labor Hours Overhead Application Rate per Labor hour Manufacturing Overhead Indirect material Indirect labor Utilities Property taxes Insurance Depreciation Total 6. Selling and administrative expense budget. Selling & Administrative Costs Salaries and Fringe Benefits - Sales Advertising Salaries and Fringe Benefits - Management Salaries and Fringe Benefits - Clerical Miscellaneous Administrative expenses Total 7. Budgeted income statement. Compute the manufactur-ing cost per unit for each type of box Direct Material/Unit-Paperboard Direct Material/Unit-Corrugating Direct Labor Type C Applied Overhead Total Per Unit Type C Sales Revenue Less: Cost of Goods Sold Gross Margin Less: Selling & Administrative Costs Income before taxes Less: Taxes Net Income $ - anned food, fruit, and vegetables. The canned food box (type C) nts. edetermined overhead rate is based on a production volume of direct-labor hours. Type P 500,000 $ 130 per 100 boxes costs for each product are expected to be the same this year and Type P 20,000 15,000 Corrugating 5,000 10,000 Include the following schedules. Type P $ - Type P - Corrugating Corrugating - $ - Type P $ - #DIV/0! Type P $ - $ - Type P $ Total - $ - $ - $ - 11-26 Amt 10.00 Calc 15.00 Format Resp Total 25.00 - - The following data are the actual results for Marvelous Marshmallow Company for October. Actual Output Actual Variable Overhead Actual Fixed Overhead Actual Machine Time $ $ 9,000 cases 405,000 122,000 40,500 hours Standard cost and budget information for Marvelous Marshmallow Company follows: Standard Variable Overhead Rate Standard Machine Hours Budgeted Fixed Overhead Budgeted Output $ $ 9.00 4 120,000 10,000 per machine hour per case per month case/month Required: Use any of the methods explained in the chapter to compute the following variances. Indicate wh favorable or unfavorable, where appropriate. a. Variable-overhead spending variance. Actual Machine Time (hours) Standard Variable Overhead Rate Standard Variable Overhead Rate Actual Machine Time (hours) Actual Variable Overhead Rate Actual Variable Overhead Variable-overhead spending variance $ - $ - b. Variable-overhead efficiency variance. Budget Machine Hours (based onn Actual output) Standard Variable Overhead Rate Flex Budget Variable Overhead Actual Machine Hours Standard Variable Overhead Rate Standard Variable Overhead Variable-overhead efficiency variance c. Fixed-overhead budget variance. Budgeted Fixed Overhead Actual Fixed Overhead Fixed-overhead budget variance $ - $ - d. Fixed-overhead volume variance. Budgeted Fixed Overhead Actual Output Budgeted Overhead Application Rate Applied Fixed Overhead Fixed-overhead volume variance Build a spreadsheet: Construct an Excel spreadsheet to solve the preceding requirement. Show if the following information changes: actual output was 9,100 cases, and actual variable overhea Actual Output Actual Variable Overhead Actual Fixed Overhead Actual Machine Time $ $ 9,100 cases 395,000 122,000 40,500 hours Standard cost and budget information for Marvelous Marshmallow Company follows: Standard Variable Overhead Rate Standard Machine Hours Budgeted Fixed Overhead Budgeted Output $ $ a. Variable-overhead spending variance. 9.00 4 120,000 10,000 per machine hour per case per month case/month b. Variable-overhead efficiency variance. c. Fixed-overhead budget variance. d. Fixed-overhead volume variance. any for October. ny follows: machine hour wing variances. Indicate whether each variance is Favorable Favorable Favorable Positive ceding requirement. Show how the solution will change nd actual variable overhead was $395,000. ny follows: machine hour