Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are pre

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Packaging Solutions Corporation Manufactures And Sells A Wide Variety Of Packaging Products Performance Reports Are Pre 1 (35.95 KiB) Viewed 32 times

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Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month; Direct labor Indirect labor Utilities Supplies Equipment depreciation. Factory rent Property taxes Factory administration Direct labor Indirect labor Utilities Cost Formulas $16.200 $4,600 $2.10g $5,100+ $0.40g $1,300+ $0.20g $18,600+ $3.00g The Production Department planned to work 4.400 labor-hours in March, however, it actually worked 4.200 labor-hours during the month. Its actual costs incurred in March are listed below: Supplies Equipment depreciation Factory rent Property taxes Factory administration $8,600 $2,700 $13,000+ $0.800 Actual Cost Incurred in March $ 69,600 $ 13,020 $7,250 $ 2,390 $ 31,200 $9,000 $2,700 $ 15,750

Required 1 Required 2 Required 3 Prepare the Production Department's planning budget for the month. Packaging Solutions Corporation Production Department Planning Budget For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Require

Required 1 Required 2 Required 3 Prepare the Production Department's flexible budget for the month. Packaging Solutions Corporation Production Department Flexible Budget For the Month Ended March 31 Direct labor Indirect labor Utilities Supplies Equipment depreciation. Factory rent Property taxes Factory administration Total expense

Prepare the Production Department's flexible budget performance report for March, including both the spending and activity variances. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Labor-hours Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Total expense Packaging Solutions Corporation Production Department Flexible Budget Performance Report For the Month Ended March 31 Actual Results 4,200 $ 69,600 13,020 7.250 2,390 31,200 9.000 2,700 15.750 $ 150.910 Flexible Budget Planning Budget

Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month; Direct labor Indirect labor Utilities Supplies. Equipment depreciation. Factory rent Property taxes Factory administration The Production Department planned to work 4,400 labor-hours in March; however, it actually worked 4.200 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Indirect labor. Utilities Cost Formulas $16.200 $4,600 $2.10g $5,100+ $0.40g $1,300+ $0.20g $18,600+ $3.000 $8,600 $2,700 $13,000+ $0.800 Supplies Equipment depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 69,600 $ 13,020 $ 7,250 $ 2,390 $ 31,200 $9,000 $2,700 $ 15,750