Business, 08.07.2020 21:01 BrianKeokot4534
Connolly Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017 , it budgeted to manufacture and sell 3 comma 100 tires at a variable cost of $ 73 per tire and total fixed costs of $ 53,500 . The budgeted selling price was $116 per tire. Actual results in August 2017 were 3,000 tires manufactured and sold at a selling price of $ 119 per tire. The actual total variable costs were $240,000 , and the actual total fixed costs were $ 50,500.
Requirement 1. Prepare a performance report that uses a flexible budget and a static budget. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.) Actual Results Units sold Revenues Variable costs Contribution margin Fixed costs Operating income Flexible-Budget Flexible Variances Budget Sales-Volume Static Variances Budget
Requirement 2. Comment on the results in requirement 1.
The total static-budget variance in operating income is $ There is a(n) total flexible-budget variance and a(n) sales-volume variance. The sales-volume variance arises solely because actual units manufactured and sold were than the budgeted 3,100 units. The flexible-budget variance in operating income is due primarily to the in unit variable costs. Choose from any list or enter any number in the input fields and then continue to the next question.
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Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.
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If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?
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Winners of the georgia lotto drawing are given the choice of receiving the winning amount divided equally over 2121 years or as a lump-sum cash option amount. the cash option amount is determined by discounting the annual winning payment at 88% over 2121 years. this week the lottery is worth $1616 million to a single winner. what would the cash option payout be?
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Connolly Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017 , it...
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