ok Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation. Total cost Cost Report For the Month Ended March 31 Actual Planning Budget 20,000 Results Variances 15,000 $ 10,500 37,800 108,200 $ 11,100 $ 600 F 40,500 129,000 2,700 F 20,800 F 82,300 77,000 5,300 U 107,000 107,000 mces $ 345,800 $ 364,600 $ 18,800 F After receiving this report, the supervisor of the Assembly Department stated, "These reports are super. It makes me feel good to see how well things are going in my department. I can't understand why those people upstairs complain so much about the reports." For the last several years, the company's marketing department chronically failed to meet the sales goals expressed in the company's monthly budgets. Required: 1. The company's president is uneasy about the cost reports, identify at least two reasons. 2. What kind of reports should be used to give better insight into how well departmental supervisors are controlling costs? 3. Complete the new performance report for the quarter, based on Flexible Budget Performance approach. 4. Were costs well controlled in March?

ok Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Wages and salaries Equipment depreciation. Total cost Cost Report For the Month Ended March 31 Actual Planning Budget 20,000 Results Variances 15,000 $ 10,500 37,800 108,200 $ 11,100 $ 600 F 40,500 129,000 2,700 F 20,800 F 82,300 77,000 5,300 U 107,000 107,000 mces $ 345,800 $ 364,600 $ 18,800 F After receiving this report, the supervisor of the Assembly Department stated, "These reports are super. It makes me feel good to see how well things are going in my department. I can't understand why those people upstairs complain so much about the reports." For the last several years, the company's marketing department chronically failed to meet the sales goals expressed in the company's monthly budgets. Required: 1. The company's president is uneasy about the cost reports, identify at least two reasons. 2. What kind of reports should be used to give better insight into how well departmental supervisors are controlling costs? 3. Complete the new performance report for the quarter, based on Flexible Budget Performance approach. 4. Were costs well controlled in March?

Name: l okMachine-hoursVariable costs:SuppliesScrapIndirect materialsFixed c
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Description: l okMachine-hoursVariable costs:SuppliesScrapIndirect materialsFixed costs:Wages and salariesEquipment depreciationTotal costCost ReportFor the Month Ended March 31PlanningBudget20,000ActualResultsVariances15,000$ 10,50037,800108,200$ 11,100$ 600 F40

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 32P: Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a...

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