Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Plant Eastern Region Central Region Western Region Budget Performance Report-Vice President, Production For the Month Ended June 30 Department Chip Fabrication Electronic Assembly Final Assembly b. s Cost Factory wages Materials Power and light Maintenance d. $ Actual $390,100 278,100 (9) $(1) Budget $390,100 280,900 (h) $(k) Actual $(a) 87,290 137,620 138,730 $(d) Delmar Company Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 Over Budget Budget $(c) $(b) 86,170 1,120 Over Budget (10) $(1) 9.1 h. S L.S J. $ k. 1. S $(e) $(f) (Under) Budget $0 (2,800) Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 Actual $29,190 73,790 5,320 4,470 850 6,920 6,320 600 $115,220 $112,380 $3,360 $(520) a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-1) as marked above. 115,220 112,380 2,840 340,130 337,280 3,960 $27,280 $1,910 74,310 $(2,800) Over (Under) Budget Budget Budget (Under) Budget $(1,110) $(1,110) $(520)

Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: Delmar Company Plant Eastern Region Central Region Western Region Budget Performance Report-Vice President, Production For the Month Ended June 30 Department Chip Fabrication Electronic Assembly Final Assembly b. s Cost Factory wages Materials Power and light Maintenance d. $ Actual $390,100 278,100 (9) $(1) Budget $390,100 280,900 (h) $(k) Actual $(a) 87,290 137,620 138,730 $(d) Delmar Company Budget Performance Report-Manager, Western Region Plant For the Month Ended June 30 Over Budget Budget $(c) $(b) 86,170 1,120 Over Budget (10) $(1) 9.1 h. S L.S J. $ k. 1. S $(e) $(f) (Under) Budget $0 (2,800) Delmar Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended June 30 Actual $29,190 73,790 5,320 4,470 850 6,920 6,320 600 $115,220 $112,380 $3,360 $(520) a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-1) as marked above. 115,220 112,380 2,840 340,130 337,280 3,960 $27,280 $1,910 74,310 $(2,800) Over (Under) Budget Budget Budget (Under) Budget $(1,110) $(1,110) $(520)

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 1E: Budget performance reports for cost centers Partially completed budget performance reports for...

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Budget performance reports for cost centers Partially completed budget performance reports for Runquist Company, a manufacturer of air conditioners, are provided below. a.Complete the budget performance reports by determining the correct amounts for the lettered spaces. b.Compose a memo to Jeff Kitchens, president of Meridian Company, explaining the performance of the Production Division for June.
Preparing a performance report Use the flexible budget prepared in P7-6 for the 31,000-unit level and the actual operating results listed below for the 31,000-unit level. Required: 1. Prepare a performance report. 2. List the major reasons why the actual operating income at 31,000 units differs from the master budget operating income at 30,000 units in Figure 7-12. 3. Given the level at which the company operated, how was its cost control? Item Direct materials: Direct labor:
Budget performance reports for cost centers Partially completed budget performance reports for Delmar Company, a manufacturer of light duty motors, follow: a. Complete the budget performance reports by determining the correct amounts for the lettered spaces. b. Compose a memo to Randi Wilkes, vice president of production for Delmar Company, explaining the performance of the production division for June.
Factory overhead cost budget Nutty Candy Company budgeted the following costs for anticipated production for August: Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only factory fixed costs.
Budget performance report for a cost center Sneed Industries Company sells vehicle parts to manufacturers of heavy construction equipment. The Crane Division is organized as a cost center. The budget for the Crane Division for the month ended August 31, 20Y6, is as follows (in thousands): During August, the costs incurred in the Crane Division were as follows: Instructions For which costs might the director be expected to request supplemental reports?
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 January 31 is as follows: During January, the costs incurred in the Consumer Products Division were as follows: Instructions 1. Prepare a budget performance report for the director of the Consumer Products Division for the month of January. 2. For which costs might the director be expected to request supplemental reports?
Budget performance report for a cost center Sneed Industries Company sells vehicle parts to manufacturers of heavy construction equipment. The Crane Division is organized as a cost center. The budget for the Crane Division for the month ended August 31, 20Y6, is as follows (in thousands): During August, the costs incurred in the Crane Division were as follows: Instructions Prepare a budget performance report for the director of the Crane Division for the month of August.
Sales, production, direct materials purchases, and direct labor cost budgets 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 July is summarized as follows: Estimated sales for July by sales territory: Estimated inventories at July 1: Desired inventories at July 31: Direct materials used in production: Anticipated purchase price for direct materials: Direct labor requirements: Instructions Prepare a sales budget for July. Prepare a production budget for July. Prepare a direct materials purchases budget for July. Prepare a direct labor cost budget for July.
Budgeted income statement and supporting budgets The budget director of Gold Medal Athletic Co., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for March: Estimated sales for March: Estimated inventories at March 1: Desired inventories at March 31: Direct materials used in production: Anticipated cost of purchases and beginning and ending inventory of direct materials: Direct labor requirements: Estimated factory overhead costs for March: Estimated operating expenses for March: Estimated other revenue and expense for March: Estimated tax rate: 30% Instructions Prepare a sales budget for March. Prepare a production budget for March. Prepare a direct materials purchases budget for March. Prepare a direct labor cost budget for March. Prepare a factory overhead cost budget for March. Prepare a cost of goods sold budget for March. Work in process at the beginning of March is estimated to be 15,300, and work in process at the end of March is desired to be 14,800. Prepare a selling and administrative expenses budget for March. Prepare a budgeted income statement for March.
Professional labor cost budget Based on the data in Exercise 13-5 and assuming that the average compensation per hour for staff is $36 and for partners is $300. prepare a professional labor cost budget for Day & Spieth, CPAs, for the year ending March 31. 20Y6. Use the following column headings:
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.
Flexible budget for factory overhead Presented below are the monthly factory overhead cost budget (at normal capacity of 5,000 units or 20,000 direct labor hours) and the production and cost data for a month. The predetermined overhead rate is based on normal capacity. Required: 1. Assuming that variable costs will vary in direct proportion to the change in volume, prepare a flexible budget for production levels of 80%, 90%, and 110% of normal capacity. Also determine the predetermined factory overhead rate at each level of volume in both units and direct labor hours. 2. Prepare a flexible budget for production levels of 80%, 90%, and 110%, assuming that variable costs will vary in direct proportion to the change in volume, but with the following exceptions. (Hint: Set up a third category for semi-variable expenses.) a. At 110% of capacity, another supervisor will be needed at a salary of 24,000 annually. b. At 80% of capacity, the repairs expense will drop to one-half of the amount at 100% capacity. c. At 80% of capacity, one part-time maintenance worker, earning 10,000 a year, will be laid off. d. At 110% of capacity, a machine not normally in use and on which no depreciation is normally recorded will be used in production. Its cost was 12,000, it has a 10-year life, and straight-line depreciation will be taken.