Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Actual (based on actual orders for 414,400 units) $7,873,600 Master Budget (based on budgeted orders for 370,000 units) $7,400,000 Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits 2,646,400 238,000 1,218,400 876,000 $4,978,800 $2,894,800 2,350,000 218,000 1,082,000 786,000 $ 4,436,000 $2,964,000 1,632,000 556,600 372,000 $2,560,600 $ 334,200 1,660,000 540,000 405,000 $ 2,605,000 $ 359,000 Required:
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- Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Actual (based on actual orders for 414,400 units) $ 7,873,600 Master Budget (based on budgeted orders for 370,000 units) $ 7,400,000 Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits Required: Prepare a profit variance analysis for Fournier Fixtures 2,646,400 238,000 1,218,400 876,000 $ 4,978,800 $2,894,800 1,632,000 556,600 372,000 $ 2,560,600 $ 334,200 2,350,000 218,000 1,082,000 786,000 $ 4,436,000 $ 2,964,000 1,660,000 540,000 405,000 $ 2,605,000 $ 359,000 Note: Do not round intermediate calculations. Indicate the effect of each variance by…Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Actual (based on actual orders for 431,200 units) Master Budget (based on budgeted orders for 385,000 units) Sales revenue $ 8,192,800 $ 7,700,000 Less Variable costs Materials 2,681,200 2,380,000 Direct labor 244,000 224,000 Variable overhead 1,247,200 1,106,000 Variable marketing and administrative 888,000 798,000 Total variable costs $ 5,060,400 $ 4,508,000 Contribution margin $ 3,132,400 $ 3,192,000 Less Fixed costs Manufacturing overhead 1,686,000 1,720,000 Marketing 617,800 600,000 Administrative 426,000 465,000 Total fixed costs $ 2,729,800 $ 2,785,000 Operating profits $ 402,600 $ 407,000 Required: Prepare a sales activity variance analysis for Fournier Fixtures.Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Actual (based on actual orders for 392,000 units) Master Budget (based on budgeted orders for 350,000 units) Sales revenue $ 7,448,000 $ 7,000,000 Less Variable costs Materials 2,600,000 2,310,000 Direct labor 230,000 210,000 Variable overhead 1,180,000 1,050,000 Variable marketing and administrative 860,000 770,000 Total variable costs $ 4,870,000 $ 4,340,000 Contribution margin $ 2,578,000 $ 2,660,000 Less Fixed costs Manufacturing overhead 1,560,000 1,580,000 Marketing 475,000 460,000 Administrative 300,000 325,000 Total fixed costs $ 2,335,000 $ 2,365,000 Operating profits $ 243,000 $ 295,000 Required: A)Prepare a sales activity variance analysis for Fournier Fixtures. B) Prepare a…
- Osage, Inc., manufactures and sells lamps. The company produces only when it recelves orders and, therefore, has no inventories. The following information is available for the current month: Actual (based on Master Budget (based actual orders for AS0,000 units) $4,974, 000 on budgeted orders for 480,000 units) $4, 800, 000 Sales revenue Less Variable costs Haterials Direct labor Variable overhead Variable narketing and administrative Total variable costs Contribution margin 1,440,000 248,000 S30, 700 420,500 1,440, 000 312,000 480,000 432,000 $2,664, 000 $2,136,000 $2,639, 200 $2,334, 800 Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits 933,200 283,000 198, 000 $1,414, 200 $ 920,600 905,000 283,000 177,000 $1,365,000 $ 771,000 Required: Prepare a flexible budget for Osage, Inc. (Do not round intermediate calculations.)Firelight Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2020. Machine setup-hours is the only driver of manufacturing overhead costs. Firelight has a set up capacity of 780 hours. (Click the icon to view the information.) Calculate the manufacturing overhead costs budget (label it Schedule 5). Schedule 5: Manufacturing Overhead Costs Budget for the Year Ending December 31, 2020 Machine Setup Overhead Costs Total manufacturing overhead costs Data table 1. Quantity of lamps to be produced 2. Number of lamps to be produced per batch 3. Setup time per batch Variable cost = $45 per setup-hour Fixed cost = $70,000 Knox 19,000 lamps 200 lamps/batch 4 hours/batch Ayer 8,000 lamps 100 lamps/batch 5 hours/batchThe controller of ABC Company that produces face masks has requested a quick estimate of the manufacturing supplies needed for its plant for the month of April. When production is expected to be at 470,000 units. Their high-low method used in estimating manufacturing supplies determined that fixed costs part of expenses is P70,560 and the variable cost per unit is P1.45 per unit. How much is the estimated manufacturing supplies for April? 1. P 652,500 2. P 681,500 3. P 749,180 4. P 752,060 O 1 O 2 3 O 4
- Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Actual (based on actual orders for 450,000 units) Master Budget (based on budgeted orders for 480,000 units) Sales revenue $ 4,975,000 $ 4,800,000 Less Variable costs Materials 1,536,000 1,536,000 Direct labor 245,000 312,000 Variable overhead 530,100 480,000 Variable marketing and administrative 445,500 456,000 Total variable costs $ 2,756,600 $ 2,784,000 Contribution margin $ 2,218,400 $ 2,016,000 Less Fixed costs Manufacturing overhead 883,100 855,000 Marketing 276,000 276,000 Administrative 199,000 175,000…Harrison, Inc. is preparing their budget for the upcoming year and requires a breakdown of the costs of power used in its factory into the fixed and variable components. They have determined the number of direct labor hours worked affects the cost of power. The following data on the cost of power used and direct labor hours worked are available for the last six months of this year: Month July August September October High-Low Method November December Total Cost of Power $ 14,850 15,400 16,370 19,800 17,600 18,500 $102.520 Direct Labor Hours 3,000 2,050 2,900 3,650 2,670 2,650 16.920 1. Assuming that Harrison uses the high-low method of analysis, calculate the cost function to be used to estimate the power costs. 2. They have determined that production needs will require 8,467 direct labor hours. Using the cost function calculated above, what is the estimated cost of power?Fournier Fixtures produces a variety of manufactured items for the home and building industry. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs. Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits Fournier Fixtures Sales Activity Variance Drau Actual (based on budgeted orders actual orders for for 392,500 439,600 units) units) $ 8,352,400 $ 7,850,000 2,698,600 247,000 1,261,600 894,000 $ 5,101,200 $ 3,251,200 1,713,000 648,400 453,000 $ 2,814,400 $ 436,800 Master Budget (based on Required: Prepare a sales activity variance analysis for Fournier Fixtures. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for…
- Palladium Inc. produces a variety of household cleaning products. Palladium’s controller has developed standard costs for the following four overhead items: Overhead Item Total Fixed Cost Variable Rate per DirectLabor Hour Maintenance $ 86,000 $0.20 Power 0.45 Indirect labor 140,000 2.10 Rent 35,000 Next year, Palladium expects production to require 90,000 direct labor hours. Required: Question Content Area 1. Prepare an overhead budget for the expected level of direct labor hours for the coming year. Palladium Inc.Overhead BudgetFor the Coming Year Variable costs: Rate per Hour Activity Level 90,000 Hours blank Maintenance $fill in the blank ddf6cc027003019_1 $fill in the blank ddf6cc027003019_2 blank Power fill in the blank ddf6cc027003019_3 fill in the blank ddf6cc027003019_4 blank Indirect labor fill in the blank ddf6cc027003019_5 fill in the blank…Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Actual (based on actual orders for 450,000 units) Master Budget (based on budgeted orders for 480,000 units) Sales revenue $ 4,490,000 $ 4,320,000 Less Variable costs Materials 1,536,000 1,536,000 Direct labor 243,000 312,000 Variable overhead 627,600 576,000 Variable marketing and administrative 397,500 408,000 Total variable costs $ 2,804,100 $ 2,832,000 Contribution margin $ 1,685,900 $ 1,488,000 Less Fixed costs Manufacturing overhead 628,800 600,000 Marketing 190,000 190,000 Administrative 133,500 112,500…The controller of ABC Company that produces face masks has requested a quick estimate of the manufacturing supplies needed for its plant for the month of April. When production is expected to be at 470,000 units. Their high-low method used in estimating manufacturing supplies determined that fixed costs part of expenses is P70,560 and the variable cost per unit is P1.45 per unit. How much is the estimated manufacturing supplies for April? P 652,500 P 681,500 P 749,180 P 752,060 Group of answer choices 1 2 3 4