Question: need help with 29 and 30 Lily's Bakery based their 2021 budget on their company's 2020 budget. However, the management at Lily's did not take

need help with 29 and 30
need help with 29 and 30 Lily's Bakery based their 2021 budget
on their company's 2020 budget. However, the management at Lily's did not

Lily's Bakery based their 2021 budget on their company's 2020 budget. However, the management at Lily's did not take into account that the company's sales were down significantly in 2020 because of Covid-related lockdowns. As such, the 2021 results make it appear that company did exceptionally well in 2021. Monagement has asked you to create a flexible budget for 2021 to more fully analyze the financial results. The master budget for Lily's Bakery assumed that the company would sell 1,000 wedding cakes during 2021. However, ACTUAL sales totaled 1,500 wedding cakes. Lily's 2021 master budget figures are as follows: Sales (in units) 1,000 cakes Soles ($) $400,000 Variable Costs $200,000 Fixed Costs $ 75,000 is the sales activity wacience for Variable Assuming that fixed costs are the same for the master budget and the flexible budget what is the Costs and is it favorable (E) or unfavorable (W)? Multiple Choice JK Company manufactures and distributes two products. J and K The company uses the traditional costing approach and overhead costs are currently allocated using the number of production setups as the allocation base. The controller has recommended changing to an activity-based costing (ABC) system and she has collected the following information Costs Units Activity Cost Driver Amount K Total MOH Rote Production setups Number of Setups $325,000 Matenal handling Number of parts $175.000 700 Packaging costs Number of units $100.000 Total Overhead $600.000 100 225 300 750 250 Based on the information above What is the total overhead allocated to Product using the ABC costing proach

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