vancy NVCC : Single Sign-On to all your Apps McGraw-Hill Connect Connect Chapter - 21 Homework Saved Help Save & EI Che 2 Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses. 3 points Variances Sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 7,000 $560,000 513,000 $ 47,000 Actual Results 5,900 $525, 100 475,000 $ 50, 100 $34,900 U 38,000 F $ 3,100 u eBook 18 Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. Hint Print BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible budget Actual results Variances $ 472,000 $ 525,100 $ 53,100 295,000 177,000 Fav./Unf. References Sales Variable expenses Contribution margin Fixed expenses Income from operations Favorable Unfavorable Favorable Favorable Favorable 163.000 $ 14,000 McGraw-Hill Connect Conne Chapter 21 Homework Saved Help Save 3 Part 1 of 2 Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. 3 points Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 44,500 lbs. $8.10 per lb. 17,200 hrs. $15.50 per hr. $218,000 8,800 eBook Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. Hint Print AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price References Actual Cost Standard Cost $ 0 S 0 $ 0 0 Chapter 21 Homework i Saved Help 4 ! Part 2 of 2 Required information [The following information applies to the questions displayed below.) A manufactured product has the following information for June. 3 points Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. e $8 per 1b.) (2 rs. @ $15 per hr.) (2 hrs. @ $12 per hr.) Actual 44,500 lbs. @ $8.10 per lb. 17,200 hrs. @ $15.50 per hr. $218,000 8,800 eBook Hint Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Print References Actual Cost Standard Cost $ 0 $ 0 $ 0 0