The Budget for Department 6 of Cardinal Company for the Current

question 163

Short Answer

The budget for Department 6 of Cardinal Company for the current month ending March 31 is as follows:
During March, the costs incurred in Department 6 of Cardinal Company were materials, $204,000; factory wages, $285,000; supervisory salaries, $63,600; depreciation of plant and equipment, $35,000; power and light, $21,360; insurance and property taxes, $14,400; maintenance, $9,456.
(a) Prepare a budget performance report for the supervisor of Department 6 of Cardinal Company for the month of March.
(b) Are there any significant variances (5% or greater) of the budgeted amounts that should be examined by the supervisor?

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Definitions:

Independent Variable

The variable that is manipulated or changed in an experiment to test its effects on the dependent variable.

Positive Correlation

A relationship between two variables where an increase in one variable is associated with an increase in the other variable.

Community Involvement

Participation in activities and events within a specific community aimed at its development and well-being.

Life Satisfaction

The degree to which an individual feels content and pleased with their life and personal circumstances.