Performance Report Bowling Company provided the following information for last y
ID: 2476835 • Letter: P
Question
Performance Report
Bowling Company provided the following information for last year.
1. Calculate the budgeted amounts for each cost category listed above for the 4,100 budgeted units, then give the total below.
$
2. Prepare a performance report using a budget based on expected production. In the variance type column, select "F" for favorable and "U" for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column.
Master Budget Actual Data Budgeted production 4,100 3,900 units Direct materials: 1 pounds @ 0.7 per pound $6,800 Direct labor: 0.5 hr. @ $15.5 per hour 30,500 VOH: 0.5 hr. @ $2.30 4,200 FOH: Materials handling, $6,500 6,300 Depreciation, $2,400 2,4001. Calculate the budgeted amounts for each cost category listed above for the 4,100 budgeted units, then give the total below.
Direct materials $ Direct labor $ Variable overhead $ Fixed overhead: Materials handling $ Depreciation $ Total$
2. Prepare a performance report using a budget based on expected production. In the variance type column, select "F" for favorable and "U" for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column.
Bowling Company Performance Report Actual Budgeted Variance Variance Type (F, U, N) Units produced Direct materials $ $ $ Direct labor Variable overhead Fixed overhead: Materials handling Depreciation Total $ $ $Explanation / Answer
All Amounts in $ 1. Calculate the budgeted amounts for each cost category listed above for the 4,100 budgeted units, then give the total below. Direct materials 2870 Direct labor 31775 Variable overhead 4715 Fixed overhead: Materials handling 6500 Depreciation 2400 Total 2. Prepare a performance report using a budget based on expected production. In the variance type column, select "F" for favorable and "U" for unfavorable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column. Bowling Company Performance Report Actual Budgeted Variance Variance Type (F, U, N) Units produced 3900 4100 -200 U Direct materials 6800 2870 -3930 U Direct labor 30,500 31775 1275 F Variable overhead 4,200 4715 515 F Fixed overhead: Materials handling 6,300 6500 200 F Depreciation 2,400 2400 0 N