Woje, Inc. manufactures travel locks. The budgeted selling price is $14 per lock, the variable cost is $7 per lock, and budgeted fixed costs are $9,000 per month. Prepare a flexible budget for output levels of 6,000 locks and 7,000 locks for the month ended April 30, 2018 Woje, Inc. Flexible Budget For the Month Ended April 30, 2018 Budget Amounts Per Unit Units 6,000 7,000 Contribution Margin Fixed Costs Operating Income Sales Revenue Variable Costs umber in the input fields and then click Check Answer. Complete the flexible budget variance analysis by filling in the blanks in the partial flexible budget performance report for 11,000 travel locks for Gable, Inc. (Click the icon to view the report) * Data Table (For variances with a $0 value, make sure to enter "o" in the appropriate cells.) Gable, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Actual Flexible Budget Flexible Results Variance Budget Units 11,000 11,000 Sales Revenue $ 209,000 187,000 51,700 50,100 Variable Costs Contribution Margin 157,300 136,900 Fixed Costs 15,800 15,100 $ 141,500 $ 121,800 Operating Income Gable, Inc. Flexible Budget Performance Report (partial) For the Month Ended April 30, 2018 Actual Flexible Budget Results Variance Units 11.000 (a) Sales Revenue $ 209,000 (6) (c) $ Variable Costs 51,700 (d) Contribution Margin 157,300 10 (9) Fixed Costs 15,800 (n) Operating Income $ 141,500 Flexible Budget 11,000 187,000 50,100 136,900 15.100 121,800 Print Done Choose from any list or enter any number in the input fields and then click Check Answer Complete the performance report Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasoning Complete the performance report (Enter a "e" for any zero balances. For any So variances, leave the Poorable (F/Unfavorable () input blank) White Pro Company Flexible Budget Performance Report Data Table For the Year Ended July 31, 2018 Flexible Sales White Company Actual Budget Flexible Volume State Results Variance Budget Variance Budget Flexible Budget Performance Report 42.000 42.000 4,000 F For the Year Ended July 31, 2018 $ Sales Revenge 213,000 Flexible 5 213,000 $ 20,000 F 000 Actual Variable Expenses 5.000 Flexible Budget 11,000 Variance Contribution Margin 127.000 128.000 Results 9,000F Budget Un 42.000 42.000 Fred Expenses 100.000 (a 102.000 Sales Revenue $ $ 213.000 $ 21.000 213,000 5 Operating income WriteExpenses 16.000 85.000 Con Margie 127,000 Fed Expenses 100.000 109.000 Operating income 21,000 10 26.000 5 Sales Static Budget al Volume Variance 4.000 20.000F 11.000 u OF 10 Saa2 0 $ 9,000F 19 Print Done Choose from any ist or enter any number in the input fields and then click Check Answer 2 Darts remaining Clear All Question Ploip Longman, Inc. is a manufacturer of lead crystal glasses. The standard direct materials quantity is 0.9 pound per glass at a cost of $0.30 per pound. The actual result for one month's production of 6,800 glasses was 1.1 pounds per glass, at a cost of $0.20 per pound. Calculate the direct materials cost variance and the direct materials efficiency variance Select the formula, then enter the amounts and compute the cost variance for direct materials and identify whether the variance is favorable (F) or unfavorable (U). Actual Cost Standard Cost Actual Quantity Direct Materials Cost Variance Choose from any list or enter any number in the input fields and then click Check Answer. 2 remainina Clear All Check Answer Brookman, Inc. manufactures lead crystal glasses. The standard direct labor time is 0.5 hour per glass, at a cost of $18 per hour. The actual results for one month's production of 7,000 glasses were 0.4 hours per glass, at a cost of $13 per hour. Calculate the direct labor cost variance and the direct labor efficiency variance. Select the formula, then enter the amounts and compute the cost variance for direct labor and identify whether the variance is favorable (F) or unfavorable (U). Actual Cost Standard Cost Actual Quantity Direct Labor Cost Variance TI Choose from any list or enter any number in the input fields and then click Check Answer. Check Answer 2 Clear All parts remaining Longman allocates manufacturing overhead to production based on standard direct labor hours. Compute the standard variable overhead allocation rate and the standard fixed overhead allocation rate. Select the formula, then enter the amounts and compute the standard variable overhead allocation rate. Budgeted variable overhead Budgeted allocation base Standard variable overhead allocation rate Data Table $ 8,000 $ 3,200 Static budget variable overhead Static budget foed overhead Static budget direct labor hours Static budget number of units 1,600 hours 4,900 units Print Done Enter any number in the edit fields and then click Check Answer. parts remaining Clear Al Check Answer Requirements 1 Compute the overhead variances for the month variable overhead cost variance, variable overhead efficiency variance, fred overhead cost variance, and find overhead volume variano 2. Explain why the variances are favorable or unfavorable Requirement 1. Compute the overhead variances for the mont-variable overhead cost varianon, variabile overhead officiency variance, fed overhead coat variance, and fixed overhead volumo variance Begin by selecting the formulas needed to compute the variable overhead (VOH) and find overhead (FOH) variances, and then compute each variance amount (Actual cost Standard cost) Actus hours VOH cost variance (Actual hours - Standard hours alowed) x Standard cost VOH eficiency wante Actual overhead. Budgeted overhead - FOH covariance Budgeted overhead-Alocated overhead = FOH volume van Data Table Static budget variable overhead $ 8.000 Static budget fed overhead $ 3.000 Static budget direct labor hours 1.000 hours State budget number of units 5,000 units Watson tes manufacturing overhead to production based on standard directibor hours last month Watson reported the following actual results actual variable overhead, $10,000 actual fred overhead, 52,830, actual production of 7.200 units at 0.25 direct labor hours perunt. The standard direct laborime is 02 direct labor hours per unit(1.000 state direct labor hours / 5,000 static unit) Print Done Enter any number in the edit fields and 4 parts remaining Clear All