Assume that The AM Bakery is preparing a budget for the month ending November 30. Management prepares the budget by startin with the actual results for August that are shown below. Then, management considers what the differences in costs will be between August and November. Ingredients Flour Butter Oil Fruit Nuts Chocolate Other Total ingredients Labor Channel manager Other Utilities Rent Marketing Total bakery costs Revenues THE AM BAKERY Bakery Sales Actual Costs For the Month Ending August 31 Actual $ 4,100 3,700 1,900 1,400 940 840 440 $ 13,320 $4,600 10,900 2,550 3,750 250 $ 35,370 $ 57,200 Budgeted $ 3,860 3,540 2,040 1,090 880 840 310 $ 12,560 4,600 11,400 2,410 3,750 140 $ 34,860 $ 57,200 Difference $240 160 (140) 310 60 130 $ 760 (500) 140 110 $510 Management expects revenue in November to be 30 percent higher than in August, and it expects all ingredient costs (e.g., flour, butter, and so on) to be 25 percent higher in November than in August. Management expects "other" labor costs to be 30 percent higher in November than in August, partly because more labor will be required in November and partly because employees will get a pay raise. The manager will get a pay raise that will increase his salary from $4,600 in August to $5,100 in November. Rent, utilities, and marketing costs are not expected to change.

Vikrambahi

Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formulas $16.30q $4,300 +$1.50g $5,300 +$0.40g $1.400+ $0.30q $18,200+ $2.70g $8,400 $13,800+ $0.60g $2,600 The Production Department planned to work 4,200 labor-hours in March; however, it actually worked 4,000 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Actual Cost Incurred in March $ 66,780 Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: $ 9,780 $ 7,370 $ 2,870 $ 29,000 $ 8.800 $ 2,600 $ 15,550 1. Prepare the Production…

Use the data in the following table to prepare the Budget Performance Report for Sole Purpose Shoe Company for September. Budget Performance Report Sarah has learned a lot from you over the past two months, and has compiled the following data for Sole Purpose Shoe Company for September using the techniques you taught her. She would like your help in preparing a Budget Performance Report for September. The company produced 2,500 pairs of shoes that required 8,750 units of material purchased at $8.20 per unit and 6,750 hours of labor at an hourly rate of $8.90 per hour during the month. Actual factory overhead during September was $20,250. When entering variances, use a negative number for a favorable cost variance, and a positive number for an unfavorable cost variance.

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The production budget should be integrated with the sales budget to ensure that production and sales are kept in balance during the year. The production budget estimates the number of units to be manufactured to meet budgeted sales and desired inventory levels.   You note that LearnCo has omitted six numbers from the following production budget and fill in the missing amounts. You may need to use numbers from the sales budget you prepared. LearnCo Production Budget For the Year Ending December 31, 20Y2   Units Basic Units Deluxe Expected units to be sold (from Sales Budget) 36000 36000 Desired ending inventory, December 31, 20Y2 1,000 3,000 Total units available 37000 39000 Estimated beginning inventory, January 1, 20Y2 (1,050) (2,100) Total units to be produced 35950 36900   Direct labor needs from the direct labor cost budget should be coordinated between the production and personnel departments so that there will be enough labor available…

Budget performance report for a cost center GHT Tech Inc. sells electronics over the Internet. The Consumer Products Division is organized as a cost center. The budget for the Consumer Products Division for the month ended July 31 is as follows: Line Item Description Customer service salaries Insurance and property taxes Distribution salaries Marketing salaries Engineer salaries 836,850 586,110 185,120 Total $4,167,050 During July, the costs incurred in the Consumer Products Division were as follows: Warehouse wages Equipment depreciation Line Item Description Customer service salaries Insurance and property taxes Distribution salaries Marketing salaries Engineer salaries Warehouse wages Equipment depreciation Total Required: Question Content Area Line Item Description Customer service salaries Insurance and property taxes Distribution salaries Amount $546,840 114,660 872,340 1,025,130 1. Prepare a budget performance report for the director of the Consumer Products Division for the…

The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for March is summarized as follows: a. Estimated sales for March by sales territory: Maine:   Backyard Chef 350 units at $800 per unit   Master Chef 200 units at $1,400 per unit Vermont:   Backyard Chef 400 units at $825 per unit   Master Chef 240 units at $1,500 per unit New Hampshire:   Backyard Chef 320 units at $850 per unit   Master Chef 200 units at $1,600 per unit b. Estimated inventories at March 1: Direct materials:   Grates 320 units   Stainless steel 1,700 lb.   Burner subassemblies 190 units   Shelves 350 units Finished products:   Backyard Chef 30 units   Master Chef 36 units c. Desired inventories at March 31: Direct materials:   Grates 300 units   Stainless steel 1,500 lb.   Burner subassemblies 210 units…

Kerekes Manufacturing Corporation has prepared the following overhead budget for next month. Activity level 2,200 machine-hours Variable overhead costs: Supplies Indirect labor Fixed overhead costs: Supervision Utilities Depreciation Total overhead cost Multiple Choice The company's variable overhead costs are driven by machine-hours. What would be the total budgeted overhead cost for next month if the activity level is 2,100 machine-hours rather than 2,200 machine-hours? (Round your intermediate calculations to 2 decimal places.) O $54,560 $53,330 $52,770 $ 9,240 17,820 $52,080 15,300 5,600 6,600 $ 54,560

Prepare a 12-month Master Budget for a company of your choosing. It can be a company that you are closely connect too or one randomly selected. COMPLETED IN EXCEL. As you are preparing the Master Budget, some information is NOT provided. You are required to decide or predict or forecast this information. Provide an introduction for the company you have chosen. The introduction should include the following: Name of company Location of company Name of owner Nature of the business. Type of product Fiscal period For the company that you have selected - Prepare a 12-month Master Budget. Your submission must show each month’s activities. Here are some considerations to include in preparing the budget: You must forecast your sales, purchases, direct labour and manufacturing overhead for each month and any other information as required All sales are on accounts Expected collections are to be 50% in the month of the sale, 30 % in the first month following the sale, and 20% in the second…