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| səhifə | 21/21 | | tarix | 28.01.2017 | | ölçüsü | 332,76 Kb. | | #6659 |
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Required:
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Prepare the company's planning budget for manufacturing costs for June. (Omit the "$" sign in your response.)
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Wyckam Manufacturing Inc.
Planning Budget for Manufacturing Cost
For the Month Ended June 30
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Direct materials
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$
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21,250
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Direct labor
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36,800
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Supplies
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1,500
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Utilities
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1,650
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Depreciation
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16,700
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Insurance
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12,700
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Total manufacturing cost
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$
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90,600
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Total grade: 0.0×1/7 + 0.0×1/7 + 0.0×1/7 + 0.0×1/7 + 0.0×1/7 + 0.0×1/7 + 0.0×1/7 = 0% + 0% + 0% + 0% + 0% + 0% + 0%
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Feedback:
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Direct materials ($4.25 × 5,000) = $21,250
Supplies ($0.30 × 5,000) = 1,500
Utilities ($1,400 + ($0.05 × 5,000)) = 1,650
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Question 25: Score 0.88/4
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Your response
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Correct response
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Fixed Cost
Per Month
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Cost per
Repair-Hour
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Wages and salaries
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$
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23,200
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$
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16.30
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Parts and supplies
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$
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8.60
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Equipment depreciation
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$
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1,600
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$
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0.40
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Truck operating expenses
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$
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6,400
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$
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1.70
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Rent
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$
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3,480
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Administrative expenses
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$
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4,500
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$
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0.80
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For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $44.50 per repair-hour.
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Required:
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Prepare a report showing the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Omit the "$" sign in your response.)
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Jake's Roof Repair
Activity Variances
For the Month Ended May 31
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Activity Variances
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Revenue
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$
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1 (0%)
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F (6%)
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Expenses:
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Wages and salaries
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1 (0%)
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F (0%)
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Parts and supplies
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1 (0%)
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U (6%)
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Equipment depreciation
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1 (0%)
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None (0%)
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Truck operating expenses
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1 (0%)
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U (6%)
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Rent
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1 (0%)
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U (0%)
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Administrative expenses
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1 (0%)
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F (0%)
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Total expense
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1 (0%)
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None (0%)
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Net operating income
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$
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1 (0%)
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F (6%)
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Exercise 10-14 Flexible Budgets and Activity Variances [LO1, LO2]
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Jake's Roof Repair has provided the following data concerning its costs:
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Fixed Cost
Per Month
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Cost per
Repair-Hour
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Wages and salaries
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$
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23,200
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$
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16.30
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Parts and supplies
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$
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8.60
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Equipment depreciation
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$
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1,600
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$
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0.40
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Truck operating expenses
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$
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6,400
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$
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1.70
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Rent
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$
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3,480
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Administrative expenses
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$
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4,500
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$
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0.80
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For example, wages and salaries should be $23,200 plus $16.30 per repair-hour. The company expected to work 2,800 repair-hours in May, but actually worked 2,900 repair-hours. The company expects its sales to be $44.50 per repair-hour.
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Required:
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Prepare a report showing the company's activity variances for May. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Omit the "$" sign in your response.)
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Jake's Roof Repair
Activity Variances
For the Month Ended May 31
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Activity Variances
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Revenue
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$
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4,450
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F
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Expenses:
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Wages and salaries
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1,630
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U
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Parts and supplies
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860
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U
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Equipment depreciation
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40
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U
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Truck operating expenses
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170
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U
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Rent
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0
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None
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Administrative expenses
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80
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U
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Total expense
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2,780
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U
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Net operating income
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$
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1,670
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F
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Total grade: 0.0×1/18 + 1.0×1/18 + 0.0×1/18 + 0.0×1/18 + 0.0×1/18 + 1.0×1/18 + 0.0×1/18 + 0.0×1/18 + 0.0×1/18 + 1.0×1/18 + 0.0×1/18 + 0.0×1/18 + 0.0×1/18 + 0.0×1/18 + 0.0×1/18 + 0.0×1/18 + 0.0×1/18 + 1.0×1/18 = 0% + 6% + 0% + 0% + 0% + 6% + 0% + 0% + 0% + 6% + 0% + 0% + 0% + 0% + 0% + 0% + 0% + 6%
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Feedback:
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Jake's Roof Repair
Activity Variances
For the Month Ended May 31
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Planning
Budget
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Flexible
Budget
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Activity
Variances
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Repair-hours (q)
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2,800
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2,900
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Revenue ($44.50q)
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$
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124,600
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$
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129,050
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$
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4,450
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F
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Expenses:
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Wages and salaries
($23,200 + $16.30q)
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68,840
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70,470
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1,630
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U
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Parts and supplies ($8.60q)
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24,080
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24,940
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860
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U
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Equipment depreciation
($1,600 + $0.40q)
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2,720
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2,760
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40
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U
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Truck operating expenses
($6,400 + $1.70q)
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11,160
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11,330
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170
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U
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Rent ($3,480)
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3,480
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3,480
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0
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None
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Administrative expenses
($4,500 + $0.80q)
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6,740
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6,820
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80
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U
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Total expense
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117,020
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119,800
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2,780
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U
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Net operating income
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$
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7,580
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$
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9,250
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$
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1,670
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F
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