Budget Performance Reports for Cost Centers Partially completed budget performan

Question

Budget Performance Reports for Cost Centers Partially completed budget performance reports for Iliad Company, a manufacturer of air conditioners, are provided follow: Iliad Company Budget Performance Report-Vice President, Production For the Month Ended April 30, 2016 Plant Mid-Atlantic Region West Region South Region Actual $507,700 361,800 Over Budget Under Budget $507,700 50 365,500 3,700 53,700 Iliad Company Budget Performance Report-Manager, South Region Plant For the Month Ended April 30, 2016 Actual Over Budget Under Budget Department Chip Fabrication Electronic Assembly Final Assembly s(a) 82,230 130,750 s(b) 83,300 129,700 s(c) 1,070 $1,050 $1,050 Iliad Company Budget Performance Report-Supervisor, Chip Fabrication For the Month Ended April 30, 2016 Budget Actual Over Budget Under Budget Cost Factory wages Materials Power and light Maintenance 529,220 70,740 4,150 7,740 $111,850 $31,270 70,240 4,940 8,480 $114,930 S2,050 $500 790 740 $3,580 $500 a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above.

Explanation / Answer

Budget performance report - VP-Production plant budget actual overbudget underbudget Mid atlantic region 507700 507700 0 west region 365500 361800 3700 south region 873200 869500 3100 ghi total 1746400 1739000 3100 3700 jkl Budget performance report - managerSouth Reg plant department budget actual overbudget underbudget chip fabrication 111850 114930 3080 abc electronic assembly 82230 83300 1070 final assembly 130750 129700 1050 total 324830 327930 4150 1050 def Budget performance report - super, chip fabrication cost budget actual overbudget underbudget Factory wages 29220 31270 2050 material 70740 70240 500 power & light 4150 4940 790 mainteance 7740 8480 740 total 111850 114930 3580 500

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