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Customers salonformant Path table body ld Remaining Time: 1 hour, 29 minutes, 14 seconds. Question Completion...

Question

Customers salonformant Path table body ld Remaining Time: 1 hour, 29 minutes, 14 seconds. Question Completion...

customers salonformant Path table body ld Remaining Time: 1 hour, 29 minutes, 14 seconds. Question Completion Status: QUESTIO
customers salonformant Path table body ld Remaining Time: 1 hour, 29 minutes, 14 seconds. Question Completion Status: QUESTION 34 In the month of May, 2017, the Budget Officer presented the following Forrest Glump Company is excited about its newly implemented budgeting program. budget report FORREST GLUMP COMPANY BUDGET REPORT FOR THE MONTH ENDED MAY 31, 2017 ference Favorable F Production Costa Budget Actual Unfavorable Variable Costs Direct Materials $ 57,600 $ 56.400 $ 1,200 F Direct labor 64,800 61.440 3.360 F Indirect materials 28.800 29.040 240U Indirect labor 21,600 21.000 600 F 10.000 17.880 120 F Malatenance 7200 7400 200U Total Variable 198 000 193 200 100F Fred costs Rant 14400 14.000 Depreciation 7.200 Sution 20400 2049 Total fed 42.000 42000 Total costs 51240020 51235 200 543COF 7200 The Way budget reported above is based on expected manufacturing of 72 000 units per month (064000 annually While the budget officer is fairly happy about the report the CEO Forrest Gump is not so mused His expectation was that the company would sell close to 70 000 You are a summer intern and have been asked to comment on this matter. C ard S tate and the Soul to sell am

Answers

No I don’t agree with the report presented ,because for performance appraisal flexible
budget should have been used where in the cost is calculated for the actual production at the
standard cost. and also it offers flexibility and static budget is rigid and is based on estimates
flexible
Budget Actual Difference
production units 70,000 70,000
variable costs
Direct materials (57600/72000)=.8*70,000 56000 56,400 400 U
Direct labor (64800/72000)= .90*70,000 63000 61,440 1560 F
Indirect mat(28800/72000)=.4*70,000 28000 29,040 1040 U
indirect labo(21600/72000)=.3*70,000 21000 21,000 0 N
Utiltiies (18000/72000)=.25*70,000 17500 17,880 380 U
Mainten(7200/72000)=.1*70000 7000 7,440 440 U
total variable cost 192500 1,93,200 700 U
Fixed Costs:
Rent 14,400 14,400 0 N
Depreciation 7,200 7,200 0 N
Supervision 20,400 20,400 0 N
total fixed 42,000 42,000 0 N
total expense 2,34,500 2,35,200 700 U
In june 76,800 is produced , that is good in the sense the production increased
but it will not change the variances since actual cost is more than standard cost
If the actual cost is to increase by 10% , then variances will increase further by
10% .


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