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Problem 10-1A a, b, c (Part Level Submission) (Video) Ratchet Company uses budgets in controlling costs....

Question:

Problem 10-1A a, b, c (Part Level Submission) (Video) Ratchet Company uses budgets in controlling costs. The August 2020 budg
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Variable costs | Direct Materials 528001 53350 Direct Labor 60720 59444 Indirect Materials 29040 will 10338 Indirect Labor 24
Problem 10-1A a, b, c (Part Level Submission) (Video) Ratchet Company uses budgets in controlling costs. The August 2020 budget report for the companys Assembling Department is as follows RATORT COMPANY Badt Report Assembling Department for the Month Ended Aug 31, 2020 Maructuring Costs a t Actual Variable costs Dwect materials $49.600 . 1,100 Favorable Dwect labor 57,040 54,0403,000 Favorable Indirect materials 27. 0 27.50 0 favorable Indirect labor 22.2021.910 410 favorable tes 15.500 150 110 Favorable Maintenance 7.440 760 190 neble Total variable 1710 175.0504130 Favorable Freed costs 11.500 11.5000 -ether favorable nor Unfavorable 17.100 1.100 the favorable or t able Depreciation 7100 7100 -- the favorable or unfavorable Total fed 25.700 5.7000 -ether Favorable nor Unfavorable 214.880 210.75 4.130 Favorite The monthly budget amounts in the report were based on an expected production of 2.000 units per month or 144,000 per year. The Assembling Department manager i for a job well done. The company president, however, is unhappy with the results for August because only 60,000 units were produced n the partn e r your answer is correct.
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Variable costs | Direct Materials 528001 53350 Direct Labor 60720 59444 Indirect Materials 29040 will 10338 Indirect Labor 24101 550 Unfavorable 1276 Favorable vorable 1298 unfavorable 341 Unfavorable 429 Unfavorable rable 473 Unfavorable 1815 Unfavorable Utilities 16929 IN Maintenance 8393 Total Variable costs T 190740 T 192555 Fixed Costs Rent T 12200 Neither Favorable nor Unfavorable Supervision TITI INT 16900 Neither Favorable nor Unfavorable NIIN Depreciation L 7700 Neither Favorable nor Unfavorable Total Fixed Costs 35700 36800 Neither Favorable nor Unfavorable Total Costs 229355 2915 | Unte Tuntavorable 60 Click if you would like to show Work for this questioni Open Show Work

Answers

Solution:

Ratchet company
Assembling Department
Flexible budget report
For the month ended September 30, 2020
Particulars Budget Actual cost Difference Favorable / Unfavorable / Neither favorable nor unfavorable
Units of Production 66000 66000
Variable overhead costs:
Direct materials $52,800.00 $53,350.00 $550.00 Unfavorable
Direct Labor $60,720.00 $59,444.00 $1,276.00 Favorable
Indirect Materials $29,040.00 $30,338.00 $1,298.00 Unfavorable
Indirect labor $23,760.00 $24,101.00 $341.00 Unfavorable
Utilities $16,500.00 $16,929.00 $429.00 Unfavorable
Maintenance $7,920.00 $8,393.00 $473.00 Unfavorable
Total Variable $190,740.00 $192,555.00 $1,815.00 Unfavorable
Fixed costs:
Rent $11,500.00 $11,500.00 $0.00 Neither Favorable nor Unfavorable
Supervision $17,100.00 $17,100.00 $0.00 Neither Favorable nor Unfavorable
Depreciation $7,100.00 $7,100.00 $0.00 Neither Favorable nor Unfavorable
Total Fixed $35,700.00 $35,700.00 $0.00 Neither Favorable nor Unfavorable
Total Costs $226,440.00 $228,255.00 $1,815.00 Unfavorable
.

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