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VashaNatasha [74]
3 years ago
10

Multiple Product Performance Report Storage Products manufactures two models of DVD storage cases: regular and deluxe. Presented

is standard cost information for each model:
Cost Components Regular Deluxe
Direct materials
Lumber 2 board feet × $3 = $6.00 3 board feet × $3 = $9.00
Assembly kit = 2.00 = 2.00
Direct labor 1 hour × $4 = 4.00 1.25 hours × $4 = 5.00
Variable overhead 1 labor hr. × $2 = 2.00 1.25 labor hrs. × $2 = 2.50
Total $14.00 $18.50
Budgeted fixed manufacturing overhead is $13,000 per month. During July, the company produced 5,000 regular and 2,000 deluxe storage cases while incurring the following manufacturing costs:
Direct materials $70,000
Direct labor 31,000
Variable overhead 11,500
Fixed overhead 15,500
Total $128,000
Prepare a flexible budget performance report for the July manufacturing activities.
Business
1 answer:
Pavlova-9 [17]3 years ago
8 0

Answer:

<u>Flexible budget performance report for the July manufacturing activities</u>

Direct Materials :                                         $62,000

Lumber :

Regular ($6.00 × 5,000) $30,000

Deluxe ($9.00 × 2,000) $18,000

Assembly kit :

Regular ($2.00 × 5,000) $10,000

Deluxe ($2.00 × 2,000) $4,000

Labor :                                                            $30,000

Regular ($4.00 × 5,000) $20,000

Deluxe ($5.00 × 2,000) $10,000

Variable overhead :                                      $15,000

Regular ($2.00 × 5,000)  $10,000

Deluxe ($2.50 × 2,000)   $5,000

Fixed manufacturing overhead                  $13,000

Total                                                             $120,000

Explanation:

A Flexed Budget is a Master budget that has been adjusted to reflect the Actual Level of Operation.

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