Chapter 7 Flexible budgeting and performance evaluation Copr…

Chapter 7 Flexible budgeting and performance evaluation Copr. Goedl 2023Owensville Pool Service is preparing a Flexible Budget Performance report for the month of July.  Data for the planning budget and the actual results are provided below. Planning budget cost formulas Estimated units of production 15,000 Sales $16 per unit Wages and salaries $36,000 Employee benefits $12,000 Supplies $4Q Rent expense $5,000 Utilities $900 plus $0.25Q Misc. expenses $8,500 plus $1.50Q Actual results Actual units of production 12,400 Sales $192,200 Wages and salaries $36,000 Employee benefits $12,400 Supplies $54,560 Rent expense $5,000 Utilities $3,380 Misc. expenses $26,800 Calculate the activity variance for Employee benefits.

Chapter 6 Budgeting Copr Goedl/Strickland 2022 The Five Feli…

Chapter 6 Budgeting Copr Goedl/Strickland 2022 The Five Felines, LLC has budgeted quarterly production for next year as follows:                                                Quarter 1    Quarter 2   Quarter 3   Quarter 4 Production in Units             10,000         12,000        16,000       14,000 The manager is preparing the raw materials purchases budget. Four pounds of raw materials are required for each unit produced. The company began the year with 4,000 pounds in the beginning raw materials inventory. The raw materials inventory at the end of each quarter should equal 10% of the next quarter’s production needs. The material costs $3 per pound. Raw materials to be purchased in the third quarter would be: