None The following data pertain to the Waikiki Sands Hotel for the month of March.Banquets and CateringRestaurantsKitchen staff wagesFoodPaper productsVariable overheadFixed overheadFlexible BudgetMarch(in thousands)*$ 6501,800(85)(690)(125)(75)(90)Actual ResultsMarch(in thousands)*$ 6581,794(86)(690)(122)(78)(93)"Numbers without parentheses denote profit; numbers with parentheses denote expenses.Required:Based on Exhibit 12-4, prepare a March performance report and use the same data for year-to-date columns in your report. (Indicatethe effect of each variance by selecting "F" for favorable, "U" for unfavorable. Select "None" and enter "O" for no effect (i.e., zerovariance). Enter your answers in thousands.)Food and Beverage DepartmentBanquets & CateringRestaurantsKitchenTotal profitWAIKIKI SANDS HOTELPerformance Reports for March(In Thousands)Actual ResultsFlexible BudgetMarchYear to DateMarch$650$6581,8001,794(1,065)(1,069)$1,385$1,383Year to Date+VarianceMarchYear to Date$8 F6 U4 U2U

The performance report for Waikiki Sands Hotel in March demonstrates how actual results compared to…

Answered: The following data pertain to the…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter22: Budgeting

Section: Chapter Questions

Problem 8E: Professional labor cost budget for a service company Based on the data in Exercise 7 and assuming...

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Professional labor cost budget for a service company Based on the data in Exercise 7 and assuming that the average compensation per hour for staff is 40 and for partners is 175, prepare a professional labor cost budget for each department forLundquist Fretwell, CPAs, for the year ending May 31, 20Y8. Use the following column headings:
Mesa Aquatics, Inc. estimated direct labor hours as 1,900 in quarter 1, 2,000 in quarter 2.2,200 in quarter 3, and 1,800 in quarter 4. a sales and administration budget using the information provided.
Direct labor hours are estimated as 2,000 in Quarter 1; 2,100 in Quarter 2; 1,900 in Quarter 3; and 2,300 in Quarter 4. Prepare a manufacturing overhead budget using the information provided.
A company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000
A company estimates its manufacturing overhead will be $750,000 for the next year. What is the predetermined overhead rate given the following independent allocation bases? Budgeted direct labor hours: 60,000 Budgeted direct labor expense: $1,500,000 Estimated machine hours: 100,000
Blue Sky Incorporated listed the following data for the current year: Budgeted factory overhead Budgeted direct labor hours Budgeted machine hours Actual factory overhead $ 1,271,000 82,000 41,000 1,201,000 86,300 39,400 Actual direct labor hours Actual machine hours Assuming Blue Sky Incorporated applied overhead based on machine hours, the firm's predetermined overhead rate for the current year rounded to 2 decimal places is:
The Eastern District of Adelson Inc. is organized as a cost center. The budget for the Eastern District of Adelson Inc. for the month ended December 31 is as follows: Sales salaries $819,840 System administration salaries 448,152 Customer service salaries 152,600 Billing salaries 98,760 Maintenance 271,104 Depreciation of plant and equipment 92,232 Insurance and property taxes 41,280 Total $1,923,968 During December, the costs incurred in the Eastern District were as follows: Sales salaries $818,880 System administration salaries 447,720 Customer service salaries 183,120 Billing salaries 98,100 Maintenance 273,000 Depreciation of plant and equipment 92,232 Insurance and property taxes 41,400 Total $1,954,452 Required: 1. Prepare a budget performance report for the manager of the Eastern District of Adelson for the month of December. If an amount box does not require an entry, leave it blank. Adelson Inc. Budget…
Budget Performance Report for a Cost CenterThe Eastern District of Adelson Inc. is organized as a cost center. The budget for the Eastern District of Adelson Inc. for themonth ended December 31 is as follows:Sales salaries $819,840System administration salaries 448,152Customer service salaries 152,600Billing salaries 98,760Maintenance 271,104Depreciation of plant and equipment 92,232Insurance and property taxes 41,280Total $1,923,968During December, the costs incurred in the Eastern District were as follows:Sales salaries $818,880System administration salaries 447,720Customer service salaries 183,120Billing salaries 98,100Maintenance 273,000Depreciation of plant and equipment 92,232Insurance and property taxes 41,400Total $1,954,452Required:1. Prepare a budget performance report for the manager of the Eastern District of Adelson for the month of December.Enter all amounts as positive numbers. If an amount box does not require an entry, leave it blank, or enter zero "0".
Selected operating information on three different companies for a recent year is given below Company Full-capacity machine-hours Budgeted machine-hours* Actual machine-hours Standard machine-hours allowed for actual production 38,000 37,000 37,000 27,000 25, 500 26,700 28,000 28, 000 27,000 37,200 24,900 28,000 *Denominator activity for computing the predetermined overhead rate. Requlred: For each company, state whether the volume variance would be favorable or unfavorable. (Indlcate the eflect of each varlance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (L.e., zero varlance.). Company A Company B Company C
Mountain Peaks applies overhead on the basis of machine hours and reports the following information: Budget Actual $150,000 30,000 Overhead Machine hours Direct materials Direct labor $144,000 27,000 $210,000 $350,000 A. What is the predetermined overhead rate? per machine hour B. How much overhead was applied during the year? machine hours C. Was overhead over- or underapplied, and by what amount? Underapplied
During the year, the company had the following budget at the beginning of the year: manufacturing its products. The company employs the job order costing system and applies Magnificent Corp. has two departments, Forming and Finishing Departments d. P900,000 d. Wha For numbers 4 and 5 7. inter F12 b. In applies C. overhead as percentage of direct labor. Forming P2,450,000 1,250,000 625,000 Finishing P1,500,000 P 600,000 60,000 8. Raw materials Direct labor Factory Overhead Job orders 050 and 051 had the following data for its prime cost. Job Order 050 P 375,000 188,500 Job Order 051 P 250,000 90,000 Raw materials Direct labor 4. What is the total cost of each job order? Job order 050 Job order 051 P349,000 a. P675,000 b. P657,750 c. P675,500 d. P617,625 P349,000 P381.000 P344,500 5. How much is the total overhead applied? Job order 050 Job order 051 a. P311,500 b. P 94,250 P 9,000 P 9,000 P 90,000 C. P311,500 d. P 54,125 P 4 ,500
Mountain Peaks applies overhead on the basis of machine hours and reports the following information: Budget Actual $150,000 30,000 Overhead Machine hours Direct materials Direct labor A. What is the predetermined overhead rate? 5✓ per machine hour B. How much overhead was applied during the year? 135,000✔ machine hours $144,000 27,000 $210,000 $350,000 C. Was overhead over- or underapplied, and by what amount? 9,000 ✓ Underapplied Feedback Check My Work Use budgeted amounts to calculate the predetermined overhead rate. The amount is then used to determine the overhead applied (along with ot overapplied. D. What is the journal entry to dispose of the over- or underapplied overhead? If an amount box does not require an entry, leave it blank. Cost of Goods Sold 18 Manufacturing Overhead

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