Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Hill Company uses budgets in controlling costs. The August 2014 budget report for the company's Assembling Department is as follows.
HILL COMPANY Budget Report Assembling Department For the Month Ended August 31, 2014
Manufacturing Costs
Budget
Actual
Difference
Favorable (F) Unfavorable (U)
Variable costs
Direct materials
$54,000
$53,000
$1,000
F
Direct labor
55,800
52,710
3,090
Indirect materials
28,800
28,940
140
U
Indirect labor
19,800
19,330
470
Utilities
18,000
17,810
190
Maintenance
13,800
14,160
360
Total variable
190,200
185,950
4,250
Fixed costs
Rent
10,860
-0-
Supervision
18,100
Depreciation
7,520
Total fixed
36,480
Total costs
$226,680
$222,430
$4,250
The monthly budget amounts in the report were based on an expected production of 60,000 units per month or 720,000 units per year. The Assembling Department manager is pleased with the report and expects a raise, or at least praise for a job well done. The company president, however, is unhappy with the results for August because only 58,000 units were produced.
State the total monthly budgeted cost formula.
Prepare a budget report for August using flexible budget data.
In September, 64,000 units were produced. Prepare the budget report using flexible budget data, assuming (1) each variable cost was 10% higher than its actual cost in August, and (2) fixed costs were the same in September as in August.
crane mechanics acquired 75 percent of downey enterprises on march 31 2005 for 3645000.downeys book value at that date
journal entries in relation to plant asset transactions.mahoney company had the following transactions involving plant
Blaise is a partner in Sweet LLP, which maintains a profit-sharing Keogh plan for its partners and employees. Compute the maximum deductible contribution in each of the following situations: (for 2013 and 2014)
Nicole Murphy and Ashley Drake formed a partnership, investing $270,000 and $90,000, respectively. Determine their participation in the year's net income of $126,000, under each of the following independent assumptions. No agreement concerning divisi..
Silver Company makes a product that is very popular as a Mother’s Day gift. Thus, peak sales occur in May of each year, as shown in the company’s sales budget for the second quarter
Nathan Akpan is planning to invest in a seven-year bond that pays annual coupons at a rate of 7 percent. It is currently selling at $927.23. What is the current market yield on such bonds?
Also, compute the first-year depreciation on the mining equipment using the production method, assuming a cost of $19,200,000 with no residual value.
analyzing financial statement using ratio analysis.springfield bank is evaluating creek enterprises which has requested
Calculate the dividend cover (or its reciprocal, the payout ratio) as of end-April 2002 for each of the three companies.
Arness Woodcrafters sells $246,800 of receivables to Commercial Factors, Inc. on a with recourse basis. Commercial assesses a finance charge of 6% and retains an amount equal to 5% of accounts receivable. Arness estimates the fair value of the recour..
LG display will build a LCD production plant at the cost of $ 4 billion. The plant will produce panels larger than 40 inches using glass substrates between 2200 mm and 2500 mm with a total capacity of 120,000 units per month.
Hickory Company manufactures two products-13,000 units of Product Y and 5,000 units of Product Z. The company uses a plant wide overhead rate based on direct labor-hours.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd