Reference no: EM132749976
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:
Cost Formulas
Direct labor$16.30q
Indirect labor$4,400 + $1.50q
Utilities$5,600 + $0.80q
Supplies$1,500 + $0.40q
Equipment depreciation$18,000 + $2.40q
Factory rent$8,400
Property taxes$3,000
Factory administration$13,700 + $0.90q
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:
Actual Cost Incurred in March
Direct labor$66,780
Indirect labor$9,880
Utilities$9,350
Supplies$3,390
Equipment depreciation$27,600
Factory rent$8,800
Property taxes$3,000
Factory administration$16,710
Required:
Problem 1. the Production Department's planning budget for the month.
Problem 2. the Production Department's flexible budget for the month.
Problem 3. the spending variances for all expense items.
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