Static Budget (1,000 recliners) Actual Results (980 recliners) Sales (1,000 recl

Question

Static Budget (1,000 recliners) Actual Results (980 recliners) Sales (1,000 recliners x $ 495 each) (980 recliners x $ 495 each) $ 495,000 485,100 Variable Manufacturing Costs Direct Materials (6,000 yds. $ 8.90 / yd.) (6,143 yds. $ 8.70 / yd.) (10,000 DLHr$ 9.20 / DLHr) (9,600 DLHr9.30 DLHr) (6,000 yds. $ 5.00 / yd.) (6,143 yds. $6.40 / yd.) 53,400 53,444 Direct Labor 92,000 89,280 Variable Overhead 30,000 39,315 Fixed Manufacturing Costs 60,000 235,400 259,600 62,000 244,039 241,061 Fixed Overhead Total Cost of Goods Sold Gross Profit

Explanation / Answer

Flexible budget :

Per unit Total Actual units 980 units Sales revenue 495 485100 Variable manufacturing costs Direct material 53.4 52332 Direct labour 92 90160 Variable overhead 30 29400 Fixed manufacturing costs Fixed overhead 60000 Total cost of goods sold 231892 Gross profit 253208

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