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 below.

a. Complete the budget performance reports by determining the correct amounts for the lettered spaces (a-l) as marked above.

b. The budget for the Chip Fabrication Department indicates that the budget overrun was caused by a combination of budget SelectsurplusesoverrunsItem 13 in wages, power and light, and maintenance that exceeded a budget SelectsurplusoverrunItem 14 in materials.

Iliad Company
Budget Performance Report—Vice President, Production
For the Month Ended April 30, 2014 Plant Budget Actual Over Budget Under Budget Mid-Atlantic Region $530,300 $530,300 $0 West Region 381,800 378,000 3,800 South Region (g) (h) (i) $(j) $(k) $(l) $3,800

Explanation / Answer

a 105350 g 340150 b 107900 h 342710 c 3060 i 2560 d 340150 j 1252250 e 342710 k 1251010 f 3720 l 2560 Iliad Company Budget Performance Report- Supervisor, Chip fabrication For the month of April, 2014 Cost Budget Actual Over budget Under budget Factory wages 19570 20940 1370 Material 72630 72120 510 Power and light 4700 5590 890 Maintenance 8450 9250 800 Total 105350 107900 3060 510 (a) (b) (c) Iliad Company Budget Performance Report- Manager , South Regional Plant For the month of April, 2014 Cost Budget Actual Over budget Under budget Chip Fabrication 105350 107900 2550 Electronic assembly 89620 90790 1170 Final asembly 145180 144020 1160 Total 340150 342710 3720 1160 (d) (e) (f) Iliad Company Budget Performance Report- Vice President, Production For the month of April, 2014 Cost Budget Actual Over budget Under budget Mid-Atlantic Region 530300 530300 0 0 West Region 381800 378000 3800 South Region 340150 342710 2560 Total 1252250 1251010 2560 3800 (j) (k) (l)

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