Data for Gundy Company are given in BE22-4. In March 2014, the company incurs the following costs in producing 100,000 units: direct materials $525,000, direct labor $596,000, and variable overhead $805,000. Actual fixed costs were equal to budgeted fixed costs. Prepare a flexible budget report for March. Were costs controlled?
Answer to relevant QuestionsHoskins Inc. owns the following assets at the balance sheet date.Cash in bank—savings account .......... $ 8,000Cash on hand.................. 1,100Cash refund due from the IRS........... 1,000Checking account ...Catt Company has the following internal control procedures over cash disbursements. Identify the internal control principle that is applicable to each procedure.(a) Company checks are prenumbered.(b) The bank statement is ...Hull Corporation’s management wants to maintain a minimum monthly cash balance of $8,000. At the beginning of September, the cash balance is $12,270; expected cash receipts for September are $97,200; cash disbursements are ...Data for the investment centers for Kaspar Company are given in BE22-9. The centers expect the following changes in the next year: (I) Increase sales 15%; (II) Decrease costs $400,000; (III) Decrease average operating assets ...Using the information in P23-3A, compute the overhead controllable variance and the overhead volume variance.
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