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Chapter 21 Homework

# Accounting: Tools for Business Decision Making

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Chapter 21 Homework Name Class Time 1. The cost accountant for Bailey’s, Inc. prepared the following monthly Static Budget report: Actual Static Budget Difference Results (Master) Favorable F (12,000 Units) (10,000 Units) Unfavorable U Sales \$1,395,000 \$1,163,000 Variable Costs: Direct materials 295,000 250,000 Direct labor 312,000 260,000 Variable manufacturing overhead 225,000 190,000 Total Variable Costs 832,000 700,000 Fixed manufacturing overhead 400,000 398,000 Total Costs 1,232,000 1,098,000 Operating Income \$163,000 \$65,000 Required: Complete the Flexible Budget report at the 12,000 unit level.

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Unformatted text preview: Actual Flexible Difference Results Budget Favorable F (12,000 Units) (12,000 Units) Unfavorable U Sales \$1,395,000 \$ \$ Variable Costs: Direct materials 295,000 Direct labor 312,000 Variable manufacturing overhead 225,000 Total Variable Costs 832,000 Fixed manufacturing overhead 400,000 Total Costs 1,232,000 Operating Income \$163,000 \$ \$ What is the total flexible budget variance? \$_________________ (Show calculation) What is the total sales volume variance? \$_________________ (Show calculation)...
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