Question: Please answer in excel format. Thank you P10-41. Comprehensive Performance Report Instant Computing is a contract manufacturer of laptop computers sold under brand named companies.
Please answer in excel format. Thank you


P10-41. Comprehensive Performance Report Instant Computing is a contract manufacturer of laptop computers sold under brand named companies. Presented are Instant's budgeted and actual contribution income statements for October. The company has three responsibility centers: Production, Selling and Distribution, and Administration. Production and Administration are cost centers while Selling and Distribution is a profit center. INSTANT COMPUTING Budgeted Contribution Income Statement For Month of October Sales (1,800 x $250) . . . . . . $450,000 Less variable costs Variable cost of goods sold Direct materials (1,800 x $50) $90,000 Direct labor (1,800 x $20) . . . . . 36,000 Manufacturing overhead (1,800 x $15) . . .. ... 27,000 $153,000 Selling and Distribution (1,800 x $60) ... 108,000 (261,000) Contribution margin . . .. 189,000 Less fixed costs Manufacturing overhead. . . . 80,000 Selling and Distribution. . . . . 60,000 Administrative . . . . . 21,000 (161,000) Net income . . . . . $ 28,000Chapter 10 Standard Costs and Performance Reports INSTANT COMPUTING Actual Contribution Income Statement For Month of October Sales (2,500 x $275) . . $687,500 Less variable costs Cost of goods sold Direct materials . . . $125,000 Direct labor . . . . 57,500 Manufacturing overhead . . . . . 48,750 $231,250 Selling and Distribution. . . . 188,000 (419,250) Contribution margin . .. . 268,250 Less fixed costs Manufacturing overhead. 78,000 Selling and Distribution. 75,000 Administrative . . . 43,000 (196,000) Net income (loss) . . . $ 72,250 Required a. Prepare a performance report for Production that compares actual and allowed costs. b. Prepare a performance report for Selling and Distribution that compares actual and allowed costs. c. Determine the sales price and the net sales volume variances. d. Prepare a report that summarizes the performance of Selling and Distribution. e. Determine the amount by which Administration was over or under budget. f. Prepare a report reconciling budgeted and actual net income. Your report should focus on the performance of each responsibility center
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