Topic: Cost Behavior and the Budget -Complete the Budget Performance Report for Soville Manufacturing

question 48

Essay

Topic: Cost Behavior and the Budget $\begin{array}{c}\text {Soville Manufacturing Company}\\\text {Budget Performance Report}\\\text {Month Ended June 30, 2013}\\\begin{array}{lr}&\text { Budget}\\&\text { 1000 hours}\\\text { Direct materials } & \$ 42,000 \\\text { Direct labor } & 16,000 \\\text { Manufacturing overhead } & \\\quad \text { Payroll taxes and fringe benefits } & 4,500 \\ \text { Factory supplies } & 360 \\\text { Machine repairs \& maintenance } & 800 \\\text { Factory supervisor salary } & 4,000 \\\text { Janitorial services } & 1,600 \\\text { Depreciation } & 2,800 \\\text { Insurance } & 400 \\\text { Property taxes } & \underline{780} \\\quad \text { Total manufacturing overhead } &\underline{15,240}\\\text { Total manufacturing cost } &\underline{73,240}\end{array}\begin{array}{rr}\text { Actual}&\text { (Over)}\\\text { 1020 hours}&\text { Under}\\\$ 43,600 & \\16,200 & \\\\4,620 & \\345 & \\575 & \\4,000 & \\1,580 & \\2,800 & \\400 & \\\underline{780} & \\\underline{15.100} & \\\underline{74.900} &\\\end{array} \end{array}$

-Complete the Budget Performance Report for Soville Manufacturing. Create a flexible budget by adding a budget column at the actual number of labor hours. Compare the actual to the flexible budget numbers you calculated.

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Definitions:

Colin Powell

An American military general and statesman who served as the 65th United States Secretary of State.

Social Circumstances

The conditions and factors of an individual's social environment, including wealth, occupation, class, and community, that affect their lifestyle and opportunities.

Prejudice

A preconceived opinion or judgment about someone or something without adequate knowledge or experience.

Discrimination

Unfair or prejudicial treatment of people based on characteristics such as race, age, sex, or disability.