FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Performance Report
Bowling Company budgeted the following amounts:
Variable costs of production:
Direct materials
8 pounds @ $0.70 per pound
Direct labor
0.4 hr. @ $16.50 per hour
VOH
0.3 hr. @ $2.20
FOH:
Materials handling
$6,250
Depreciation
$2,560
At the end of the year, Bowling had the following actual costs for production of 3,800 units:
Direct materials
$6,800
Direct labor
30,500
Variable overhead
4,200
Fixed overhead:
Materials handling
6,300
Depreciation
2,560
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Transcribed Image Text:Performance Report Bowling Company budgeted the following amounts: Variable costs of production: Direct materials 8 pounds @ $0.70 per pound Direct labor 0.4 hr. @ $16.50 per hour VOH 0.3 hr. @ $2.20 FOH: Materials handling $6,250 Depreciation $2,560 At the end of the year, Bowling had the following actual costs for production of 3,800 units: Direct materials $6,800 Direct labor 30,500 Variable overhead 4,200 Fixed overhead: Materials handling 6,300 Depreciation 2,560
Performance Report
Prepare a performance report using a budget based on the actual level of production. In the variance typ
and "U" for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for n
column.
Bowling Company
Performance Report
Actual
Budgeted Variance Variance Type (F or U or N)
Units produced
Direct materials
Direct labor
Variable overhead
Fixed overhead:
Materials handling
Depreciation
Total
expand button
Transcribed Image Text:Performance Report Prepare a performance report using a budget based on the actual level of production. In the variance typ and "U" for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for n column. Bowling Company Performance Report Actual Budgeted Variance Variance Type (F or U or N) Units produced Direct materials Direct labor Variable overhead Fixed overhead: Materials handling Depreciation Total
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