Missoula, Inc &Nbsp;
Required:
A

question 146

Essay

Missoula, Inc., is looking for feedback on performance. The company compares the budget for the year with the actual costs.
Missoula, Inc., had the following budgeted data: $\begin{array}{ll}\text { Unit sales for } 2018 & 10,000 \\\text { Unit production for } 2018 & 10,000\\\\\text { Budgeted fixed overhead for } 2018 \text { : }\\\text { Supervision } & \$ 18,000 \\\text { Depreciation } & 20,000 \\\text { Rent } & 10,000\\\\\text { Budgeted variable costs per unit: } & \\\text { Direct materials } & \$ 18.00 \\\text { Direct labor } & 25.00 \\\text { Supplies } & 0.20 \\\text { Indirect labor } & 1.00 \\\text { Power } & 0.10\\\\\text { The following actually occurred: }\\\\\text { Actual unit sales for } 2018 & 11,000 \\\text { Actual unit production for } 2018 & 12,000\\\\\text { Actual fixed overhead for } 2018 \text { : }\\\text { Supervision } & \$ 17,850 \\\text { Depreciation } & 20,000 \\\text { Rent } & 10,000\\\\\text { Actual variable costs for 2018: } & \\\text { Direct materials } & \$ 214,000 \\\text { Direct labor } & 320,000 \\\text { Supplies } & 2,500 \\\text { Indirect labor } & 10,000 \\\text { Power } & 1,500\\\end{array}$
 
Required:
a.Prepare a performance report for all costs showing static budget variances.
b.Prepare a performance report for all costs showing flexible budget variances.

Understand the definitions and concepts of political values such as equality, liberty, and legitimacy.

Recognize the difference between authority and legitimacy in governments.

Comprehend the rationale behind the framers of the Constitution not creating a direct democracy.

Identify the necessary elements for maintaining social order, including protection from domestic and foreign threats and abuses of power.

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Definitions:

Obsolete

Refers to products, technologies, or methods that are no longer used because newer ones have replaced them.

Highly Valued

Regarded with great importance, significance, or appreciation by individuals or society.

Competitive Price-Searcher Market

A market structure where firms have some power to set prices because their products are differentiated, but must consider the prices of competitors.

Losses

The negative financial result from business activities when costs exceed revenues.