Solomon Medical Equipment Company makes a blood pressure measuring kit. John Reisch is the production manager....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Solomon Medical Equipment Company makes a blood pressure measuring kit. John Reisch is the production manager. The production department's static budget and actual results for Year 3 follow. Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs. $ 185,000 160,000 37,500 Required a. Convert the static budget into a flexible budget b. Calculate the variances. $ 382,500 207,000 $ 589,500 Required A Required B Convert the static budget into a flexible budget. Note: Do not round intermediate calculations. 25,000 kits Complete this question by entering your answers in the tabs below. Flexible Budget 26,100 Kits 0 0 Actual Results. 26,100 kits < Required A $ 231,940 160,140 41,250 433,330 202,300 $ 635,630 Required B > Complete this question by entering your answers in the tabs below. Required A Required B Calculate the variances. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None for no effect (i.e., zero variance). Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Variances < Required A REFERECES Solomon Medical Equipment Company makes a blood pressure measuring kit. John Reisch is the production manager. The production department's static budget and actual results for Year 3 follow. Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing cost Static Budget Production in units Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs. $ 185,000 160,000 37,500 Required a. Convert the static budget into a flexible budget b. Calculate the variances. $ 382,500 207,000 $ 589,500 Required A Required B Convert the static budget into a flexible budget. Note: Do not round intermediate calculations. 25,000 kits Complete this question by entering your answers in the tabs below. Flexible Budget 26,100 Kits 0 0 Actual Results. 26,100 kits < Required A $ 231,940 160,140 41,250 433,330 202,300 $ 635,630 Required B > Complete this question by entering your answers in the tabs below. Required A Required B Calculate the variances. Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None for no effect (i.e., zero variance). Direct materials Direct labor Variable manufacturing overhead Total variable costs Fixed manufacturing overhead Total manufacturing costs Variances < Required A REFERECES
Expert Answer:
Answer rating: 100% (QA)
Required A Convert the static budget into a flexible budget Flexible Budget for 26100 Kits Productio... View the full answer
Related Book For
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
Posted Date:
Students also viewed these accounting questions
-
How many objects are created for test class? Consider the following code; class test { private: int x%;B public: test( ) }; { x=0; } ~test ( ) { cout
-
Direction: Graph the following equations. (Parabola) ) y = 5x + 30x + 39 2.) 2 (Y-3) + 24 = X 12
-
Muskrat Medical Equipment Company makes a blood pressure measuring kit. Jason McCoy is the production manager. The production departments static budget and actual results for Year 3 follow. Required...
-
Ellie, a CPA, incurred the following deductible education expenses to maintain or improve her skills: travel and transportation 1700.00 Tuition 6000.00 Books 800.00 Elli's AGI FOR THE YEAR IS 60,000...
-
Over a long period of time, Sears has slipped from being America's largest retailer to placing 41 in a recent analysis. What cultural change can you suggest to help company leadership at Sears...
-
Soda Company is the largest bottler in Western Europe. The company purchases Brand 1 and Brand 2 concentrate from The Soda Company, dilutes and mixes the concentrate with carbonated water, and then...
-
Five tests are performed, and the P-values are 0.02, 0.11, 0.23, 0.38, and 0.45. Use the Bonferroni adjustment to adjust the P-value of 0.02.
-
The Sun Theater, owned by Ha Ji-Won, will begin operations in March. The Sun will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Sun...
-
g Change the order of Integral and Evaluate. 6 36-2 x + y dxdy 20 10. Change the order of integration, but do NOT evaluate: f(x, y)dxdy 9
-
What are the major causes of information risk? How can information risk be reduced?
-
Sumit's age after 12 years will be 6 times his age 8 years back. What is the present age of Sumit? (a) 10 (b) 12 (c) 14 (d) 15 (e) 18
-
Can employers maintain a certain look or image to their retails sales force and not violate EEOC REGULATION? Explain with example.
-
There are many companies that implemented online HRD programmes during the Covid-19 pandemic lockdown. Explain the advantages and disadvantages to the companies and employees if online HRD programmes...
-
Pharoah company reported net sales of $ 2 6 6 , 0 0 0 , cost of goods sold of $ 1 5 9 , 6 0 0 , operating expenses of $ 4 6 , 4 0 0 , net income of $ 4 2 , 5 6 0 , beginning total assets of $ 4 9 2 ,...
-
Explain with an example of a professional reference letter? The person is applying for a Substitute teacher position but worked in Juvenile courtroom for 5 years they maintained a great repour with...
-
Consider two different implementations, MI and M2, of the same instruction set. There are three classes of instructions (A, B, and C) in the instruction set. MI has a clock rate of 400 MHz, and M2...
-
Please provide clear calculations/explanations, as indicated, for each of the following questions: a. What is the current price of a 10% coupon bond (with standard semiannual payments) if the...
-
Use this circle graph to answer following Exercises. 1. What fraction of areas maintained by the National Park Service are designated as National Recreation Areas? 2. What fraction of areas...
-
Rachael's Restaurant, a fast-food restaurant company, operates a chain of restaurants across the nation. Each restaurant employs eight people; one is a manager paid a salary plus a bonus equal to 4...
-
The following events apply to Lewis and Harper, a public accounting firm, for the 2018 accounting period: 1. Performed $70,000 of services for clients on account. 2. Performed $40,000 of services for...
-
Northwest Sales had the following transactions in 2018: 1. Acquired $200,000 cash from the issue of common stock. 2. Purchased $900,000 of merchandise for cash in 2018. 3. Sold merchandise that cost...
-
Ski resorts are interested in the mean age that children take their first ski and snowboard lessons. They need this information to plan their ski classes optimally. identify: a. the population, b....
-
Insurance companies are interested in the mean health costs each year of their clients, so that they can determine the costs of health insurance. identify: a. the population, b. the sample, c. the...
-
A fitness center is interested in the mean amount of time a client exercises in the center each week. identify: a. the population, b. the sample, c. the parameter, d. the statistic, e. the variable,...
Study smarter with the SolutionInn App