1. Managerial accounting 1b ch21 | Accounting homework help
Managerial Accounting 1BFinancial and Managerial AccountingChapter 21 1.Exercise 21-1
Preparation of flexible budgets L.O. P1 Mesa Company’s fixed budget for the first quarter of
calendar year 2011 reveals the following. Prepare flexible budgets that show variable
costs per unit, fixed costs, and three different flexible budgets for sales volumes of 7,500,
10,000, and 12,500 units. (Round your “Variable amount per unit” to 2 decimal places. Input
all amounts as positive values. Omit the “$” sign in your response.) MESA COMPANYFlexible
BudgetsFor Quarter Ended March 31, 2011 Flexible Budget 2. Exercise 21-4
Preparation of a flexible budget performance report L.O. P1 Daytec Company’s fixed budget
performance report for June follows. The $440,000 budgeted expenses include $300,000
variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed
expenses. Prepare a flexible budget performance report showing any variances between
budgeted and actual results. List fixed and variable expenses separately. (Input all amounts
as a positive value. Indicate the effect of each variance by selecting “F” for favorable, “U” for
unfavorable, and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain
to enter “0” wherever required. Omit the “$” sign in your response.) DAYTEC
COMPANYFlexible Budget Performance ReportFor Month Ended June 30 Flexible Budget
Actual Results Variances Sales $ [removed] $ [removed] $ [removed] F Variable
expenses [removed] [removed] [removed] U Contribution margin
[removed] [removed] [removed] F Fixed expenses
[removed] [removed] [removed] F Income from operations
$ [removed] $ [removed] $ [removed] F Exercise 21-7A Computation and
interpretation of overhead spending, efficiency, and volume variances L.O. P3[The following
information applies to the questions displayed below.] Sonic Company set the following
standard costs for one unit of its product for 2011. Direct material (20 Ibs. @
$2.50 per Ib.) $ Direct labor (15 hrs. @ $8.00 per hr.) Factory variable
overhead (15 hrs. @ $2.50 per hr.) Factory fixed overhead (15 hrs. @ $0.50 per
hr.) Standard cost $ The $3.00 ($2.50 + $0.50) total overhead
rate per direct labor hour is based on an expected operating level equal to 75% of the
factory’s capacity of 50,000 units per month. The following monthly flexible budget
information is also available. During the current month, the company operated at 70% of
capacity, employees worked 500,000 hours, and the following actual overhead costs were
incurred. Variable overhead costs $ Fixed overhead
costs Total overhead costs $ 3.Exercise 21-7 Part 1 1.
2. Compute variable overhead spending and efficiency variances. (Input all amounts as a
positive value. Indicate the effect of each variance by selecting “F” for favorable, “U” for
unfavorable, and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain
to enter “0” wherever required. Omit the “$” sign in your response.) Spending
variances $ [removed] U Efficiency variances $ [removed] F 4.Exercise 21-7 Part 2 2.
Compute Fixed overhead spending and volume variances. (Input all amounts as a positive
value. Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable,
and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain to enter “0”
wherever required. Omit the “$” sign in your response.) Spending variances
$ [removed] U Volume variances $ [removed] U 5.Exercise 21-7 Part 3 3. Compute
controllable variance. (Input all amounts as a positive value. Indicate the effect of each
variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e.,
zero variance). Leave no cells blank – be certain to enter “0” wherever required. Omit the
“$” sign in your response.) Controllable variance $ [removed] F 6.Exercise 21-8
Computation and interpretation of materials variances L.O. P2 BTS Company made 6,000
bookshelves using 88,000 board feet of wood costing $607,200. The company’s direct
materials standards for one bookshelf are 16 board feet of wood at $7 per board foot. (1)
Compute the direct materials variances incurred in manufacturing these bookshelves. (Do
not round your intermediate calculations. Input all amounts as a positive value. Indicate the
effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no
effect (i.e., zero variance). Leave no cells blank – be certain to enter “0” wherever required.
Omit the “$” sign in your response.) Price variance $ [removed] F Quantity
variance $ [removed] F Total materials variance $ [removed] F Problem
21-1A Computation of materials, labor, and overhead variances L.O. P2, P3[The following
information applies to the questions displayed below.] Tuna Company set the following
standard unit costs for its single product. The predetermined overhead rate is based on a
planned operating volume of 80% of the productive capacity of 60,000 units per quarter.
The following flexible budget information is available. Operating
Levels 70% 80% 90% Production in
units 42,000 48,000 54,000 Standard direct labor
hours 252,000 288,000 324,000 Budgeted overhead Fixed
factory overhead $ 2,016,000 $ 2,016,000 $ 2,016,000 Variable factory
overhead $ 1,260,000 $ 1,440,000 $ 1,620,000 During the current quarter, the
company operated at 70% of capacity and produced 42,000 units of product; actual direct
labor totaled 250,000 hours. Units produced were assigned the following standard
costs: Actual costs incurred during the current quarter follow: 7. Problem 21-1A Part 1
Required: 1. Compute the direct materials cost variance, including its price and quantity
variances. (Indicate the effect of each variance by selecting “F” for favorable, “U” for
unfavorable, and “None” for no effect (i.e., zero variance). Input all amounts as positive
values. Leave no cells blank – be certain to enter “0” wherever required. Omit the “$” sign in
your response.) 8.Problem 21-1A Part 2 2. Compute the direct labor variance, including its
rate and efficiency variances. (Indicate the effect of each variance by selecting “F” for
favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Input all
3. amounts as positive values. Leave no cells blank – be certain to enter “0” wherever required.
Omit the “$” sign in your response.) 9.Problem 21-1A Part 3 3. Compute the overhead
controllable and volume variances. (Indicate the effect of each variance by selecting “F” for
favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Input all
amounts as positive values. Leave no cells blank – be certain to enter “0” wherever required.
Omit the “$” sign in your response.) Controllable variance $ [removed] Fixed
overhead volume variance $ [removed] Problem 21-3A Preparation and analysis of a
flexible budget L.O. P1[The following information applies to the questions displayed below.]
Pebco Company’s 2011 master budget included the following fixed budget report. It is
based on an expected production and sales volume of 20,000 units. PEBCO
COMPANYFixed Budget ReportFor Year Ended December 31, 2011 10.Problem 21-3A Part
1 1. Classify all items listed in the fixed budget as variable or fixed. Also determine their
amounts per unit or their amounts for the year, as appropriate. (Round your variable
amount answers to 2 decimal places. Omit the “$” sign in your response.) 11. Problem 21-
3A Part 2 2. Prepare flexible budgets for the company at sales volumes of 18,000 and
24,000 units. (Round your variable amount per unit answers to 2 decimal places. Input all
amounts as positive values. Omit the “$” sign in your response.) PEBCO COMPANY Flexible
Budgets For Year Ended December 31, 2011 12.Problem 21-3A Part 3 3. The company’s
business conditions are improving. One possible result is a sales volume of approximately
28,000 units. The company president is confident that this volume is within the relevant
range of existing capacity. How much would operating income increase over the 2011
budgeted amount of $125,000 if this level is reached without increasing capacity? (Do not
round intermediate calculations.Omit the “$” sign in your response.) Operating income
increase $ [removed] 13.Problem 21-3A Part 4 4. An unfavorable change in business is
remotely possible; in this case, production and sales volume for 2011 could fall to 14,000
units. How much income (or loss) from operations would occur if sales volume falls to this
level? (Input the amount as positive value. Do not round intermediate calculations.Omit the
“$” sign in your response.) Potential operating loss $ [removed]
![Managerial accounting 1b ch21 | Accounting homework help
Managerial Accounting 1BFinancial and Managerial AccountingChapter 21 1.Exercise 21-1
Preparation of flexible budgets L.O. P1 Mesa Company’s fixed budget for the first quarter of
calendar year 2011 reveals the following. Prepare flexible budgets that show variable
costs per unit, fixed costs, and three different flexible budgets for sales volumes of 7,500,
10,000, and 12,500 units. (Round your “Variable amount per unit” to 2 decimal places. Input
all amounts as positive values. Omit the “$” sign in your response.) MESA COMPANYFlexible
BudgetsFor Quarter Ended March 31, 2011 Flexible Budget 2. Exercise 21-4
Preparation of a flexible budget performance report L.O. P1 Daytec Company’s fixed budget
performance report for June follows. The $440,000 budgeted expenses include $300,000
variable expenses and $140,000 fixed expenses. Actual expenses include $130,000 fixed
expenses. Prepare a flexible budget performance report showing any variances between
budgeted and actual results. List fixed and variable expenses separately. (Input all amounts
as a positive value. Indicate the effect of each variance by selecting “F” for favorable, “U” for
unfavorable, and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain
to enter “0” wherever required. Omit the “$” sign in your response.) DAYTEC
COMPANYFlexible Budget Performance ReportFor Month Ended June 30 Flexible Budget
Actual Results Variances Sales $ [removed] $ [removed] $ [removed] F Variable
expenses [removed] [removed] [removed] U Contribution margin
[removed] [removed] [removed] F Fixed expenses
[removed] [removed] [removed] F Income from operations
$ [removed] $ [removed] $ [removed] F Exercise 21-7A Computation and
interpretation of overhead spending, efficiency, and volume variances L.O. P3[The following
information applies to the questions displayed below.] Sonic Company set the following
standard costs for one unit of its product for 2011. Direct material (20 Ibs. @
$2.50 per Ib.) $ Direct labor (15 hrs. @ $8.00 per hr.) Factory variable
overhead (15 hrs. @ $2.50 per hr.) Factory fixed overhead (15 hrs. @ $0.50 per
hr.) Standard cost $ The $3.00 ($2.50 + $0.50) total overhead
rate per direct labor hour is based on an expected operating level equal to 75% of the
factory’s capacity of 50,000 units per month. The following monthly flexible budget
information is also available. During the current month, the company operated at 70% of
capacity, employees worked 500,000 hours, and the following actual overhead costs were
incurred. Variable overhead costs $ Fixed overhead
costs Total overhead costs $ 3.Exercise 21-7 Part 1 1.](https://image.slidesharecdn.com/managerialaccounting1bch21accountinghomeworkhelp-230318213103-61304c74/85/Managerial-accounting-1b-ch21-Accounting-homework-help-docx-1-320.jpg)
![Compute variable overhead spending and efficiency variances. (Input all amounts as a
positive value. Indicate the effect of each variance by selecting “F” for favorable, “U” for
unfavorable, and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain
to enter “0” wherever required. Omit the “$” sign in your response.) Spending
variances $ [removed] U Efficiency variances $ [removed] F 4.Exercise 21-7 Part 2 2.
Compute Fixed overhead spending and volume variances. (Input all amounts as a positive
value. Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable,
and “None” for no effect (i.e., zero variance). Leave no cells blank – be certain to enter “0”
wherever required. Omit the “$” sign in your response.) Spending variances
$ [removed] U Volume variances $ [removed] U 5.Exercise 21-7 Part 3 3. Compute
controllable variance. (Input all amounts as a positive value. Indicate the effect of each
variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e.,
zero variance). Leave no cells blank – be certain to enter “0” wherever required. Omit the
“$” sign in your response.) Controllable variance $ [removed] F 6.Exercise 21-8
Computation and interpretation of materials variances L.O. P2 BTS Company made 6,000
bookshelves using 88,000 board feet of wood costing $607,200. The company’s direct
materials standards for one bookshelf are 16 board feet of wood at $7 per board foot. (1)
Compute the direct materials variances incurred in manufacturing these bookshelves. (Do
not round your intermediate calculations. Input all amounts as a positive value. Indicate the
effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no
effect (i.e., zero variance). Leave no cells blank – be certain to enter “0” wherever required.
Omit the “$” sign in your response.) Price variance $ [removed] F Quantity
variance $ [removed] F Total materials variance $ [removed] F Problem
21-1A Computation of materials, labor, and overhead variances L.O. P2, P3[The following
information applies to the questions displayed below.] Tuna Company set the following
standard unit costs for its single product. The predetermined overhead rate is based on a
planned operating volume of 80% of the productive capacity of 60,000 units per quarter.
The following flexible budget information is available. Operating
Levels 70% 80% 90% Production in
units 42,000 48,000 54,000 Standard direct labor
hours 252,000 288,000 324,000 Budgeted overhead Fixed
factory overhead $ 2,016,000 $ 2,016,000 $ 2,016,000 Variable factory
overhead $ 1,260,000 $ 1,440,000 $ 1,620,000 During the current quarter, the
company operated at 70% of capacity and produced 42,000 units of product; actual direct
labor totaled 250,000 hours. Units produced were assigned the following standard
costs: Actual costs incurred during the current quarter follow: 7. Problem 21-1A Part 1
Required: 1. Compute the direct materials cost variance, including its price and quantity
variances. (Indicate the effect of each variance by selecting “F” for favorable, “U” for
unfavorable, and “None” for no effect (i.e., zero variance). Input all amounts as positive
values. Leave no cells blank – be certain to enter “0” wherever required. Omit the “$” sign in
your response.) 8.Problem 21-1A Part 2 2. Compute the direct labor variance, including its
rate and efficiency variances. (Indicate the effect of each variance by selecting “F” for
favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Input all](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)