solve areas in yellow. Both labor variance and parts variance should equal 80,025 MRO Department - 2020

solve areas in yellow. Both labor variance and parts variance should equal 80,025

Transcribed Image Text:

MRO Department - 2020 Results Change in Gross Margin 80,025 Revenues (billed out): Budget Actual Fav./(Unfav.) - Labor (hrs.) 3,456 3,685 229 - Labor rate ($/hr.) 120 120 - - Parts ($/hr.) 345 320 (25) Labor Variance Costs: Revenue (hrs.) -Labor (hrs.) 3,840 3,877 37 Rate ($/hr.) - Labor ($/hr.) 42 43 1 Costs (hrs.) - Parts (% of revenue) 80% 75% -5% Labor (S/hr.) Revenues: - Labor - Parts $ Fav./(Unfav.) 414,720 442,191 1,192,320 1,178,092 Total Revenues 1,607,040 1,620,283 27,471 (14,228) 13,243 Costs: - Labor - Parts 161,280 953,856 882,143 166,211 4,931 (71,713) Total Costs 1,115,136 1,048,354 (66,782) Gross Margin 491,904 571,929 80,025 Overhead: - Space 75,000 75,000 - General & Admin. 35,000 35,000 - Depreciation 68,500 68,500 -Legal & Regulatory 18,000 18,000 Total Overhead 196,500 196,500 Net before Taxes 295,404 375,429 80,025 Taxes 62,035 78,840 16,805 Net after Taxes 233,369 296,589 63,220 Parts Variance Revenue (hrs.) Revenue ($/hr.) Total Costs (hrs.) Costs ($/hr.) Mark-up Other Total MRO Department - 2020 Results Change in Gross Margin 80,025 Revenues (billed out): Budget Actual Fav./(Unfav.) - Labor (hrs.) 3,456 3,685 229 - Labor rate ($/hr.) 120 120 - - Parts ($/hr.) 345 320 (25) Labor Variance Costs: Revenue (hrs.) -Labor (hrs.) 3,840 3,877 37 Rate ($/hr.) - Labor ($/hr.) 42 43 1 Costs (hrs.) - Parts (% of revenue) 80% 75% -5% Labor (S/hr.) Revenues: - Labor - Parts $ Fav./(Unfav.) 414,720 442,191 1,192,320 1,178,092 Total Revenues 1,607,040 1,620,283 27,471 (14,228) 13,243 Costs: - Labor - Parts 161,280 953,856 882,143 166,211 4,931 (71,713) Total Costs 1,115,136 1,048,354 (66,782) Gross Margin 491,904 571,929 80,025 Overhead: - Space 75,000 75,000 - General & Admin. 35,000 35,000 - Depreciation 68,500 68,500 -Legal & Regulatory 18,000 18,000 Total Overhead 196,500 196,500 Net before Taxes 295,404 375,429 80,025 Taxes 62,035 78,840 16,805 Net after Taxes 233,369 296,589 63,220 Parts Variance Revenue (hrs.) Revenue ($/hr.) Total Costs (hrs.) Costs ($/hr.) Mark-up Other Total