Name:
Section:
Score: 0%
Key Code:
1.
Unit Sales Unit Selling
Product and Area Volume Price Total Sales
Model SJ30:
East Region
2.
Model SJ30 Model SX99
Expected units to be sold
For the Month Ending April 30
For the Month Ending April 30
SURROUND AUDIO COMPANY
Instructions
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Units
Exercise 13-4
Production Budget
SURROUND AUDIO COMPANY
Sales Budget
2
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Name:
Section:
Score: See student sheet for student’s score
Scoring:
1.
Unit Sales Unit Selling
Product and Area Volume Price Total Sales
Model SJ30:
East Region 7,000 $80 $560,000
2.
Model SJ30 Model SX99
Expected units to be sold 16,000 7,000
Instructions
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Exercise 13-4
SOLUTION
ON
For the Month Ending April 30
Units
SURROUND AUDIO COMPANY
Sales Budget
For the Month Ending April 30
SURROUND AUDIO COMPANY
Production Budget
Name:
Section:
Score: 0%
Key Code:
Billable Hourly Total
Hours Rate Revenue
Audit Department:
Staff
Exercise 13-5
Instructions
2
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SALAZAR & CRENSHAW, CPAs
Professional Fees Earned Budget
For the Year Ending July 31, 20Y6
Name:
Section:
Score: See student sheet for student’s score
Scoring:
Billable Hourly Total
Hours Rate Revenue
Audit Department:
Staff 40,000 $150 6,000,000$
Partners 6,000 $350 2,100,000
Total 46,000 $8,100,000
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For the Year Ending July 31, 20Y6
SALAZAR & CRENSHAW, CPAs
ON
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Exercise 13-5
SOLUTION
Instructions
Professional Fees Earned Budget
Name:
Section:
Score: 0%
Key Code:
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1. a.
Price variance:
Actual price
1. b.
Rate variance:
Actual rate
1. c.
Standard for amount produced (hours)
Productive capacity not used (hours)
Standard fixed factory overhead rate x
Variable factory overhead controllable variance:
Actual variable factory overhead cost incurred
Budgeted variable factory overhead for 1,300 hrs.
Variance –
Alternative Computation of Overhead Variances:
Actual costs
Applied costs
Balance
Direct Labor Cost Variance
Factory Overhead Cost Variance
Problem 13-5
Instructions
Direct Materials Cost Variance
2
Controllable Volume
Variance Variance
Total Factory
Overhead
Cost Variance
Name:
Section:
Score: See student sheet for student’s score
Scoring:
1. a.
Price variance:
Actual price 6.17$
1. b.
Rate variance:
Actual rate 21.00$
1. c.
Variable factory overhead controllable variance:
Actual variable factory overhead cost incurred 11,375$
Budgeted variable factory overhead for 4,000 hrs. 11,600
Variance – favorable (225)$
Alternative Computation of Overhead Variances:
Actual costs
68,375$
Applied costs
(57,200)
Balance 11,175$
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Problem 13-5
SOLUTION
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Direct Materials Cost Variance
Direct Labor Cost Variance
ON
Instructions
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$68,375 Fixed cost 57,000 ($57,200)
Total 68,600$
Name:
Section:
Score: 0%
Key Code:
Staff Partners
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SALAZAR & CRENSHAW, CPAs
Professional Labor Cost Budget
2
Exercise 13-6
Instructions
For the Year Ending July 31, 20Y6
Name:
Section:
Score: See student sheet for student’s score
Scoring: ON
Staff Partners
For the Year Ending July 31, 20Y6
SALAZAR & CRENSHAW, CPAs
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Exercise 13-6
SOLUTION
Instructions
Professional Labor Cost Budget
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Name:
Section:
Score: 0%
Key Code:
Dough Tomato Cheese Total
Units required for production:
12″ pizza
GINO’S FROZEN PIZZA INC.
Direct Materials Purchases Budget
2
Exercise 13-7
For the Month Ending June 30
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Instructions
Name:
Section:
Score: See student sheet for student’s score
Scoring:
Dough Tomato Cheese Total
Units required for production:
12″ pizza 13,500 7,200 10,800
Exercise 13-7
SOLUTION
Instructions
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GINO’S FROZEN PIZZA INC.
Direct Materials Purchases Budget
ON
For the Month Ending June 30
Name:
Section:
Score: 17%
*Since some answer boxes are correct when left blank, the beginning score is greater than 0%.
Key Code:
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Normal capacity for the month hrs.
Actual productive capacity used for the month hrs.
Budget
(at actual
Variable factory overhead cost: production) Actual Favorable Unfavorable
Indirect factory wages
Power and light
Volume variance
Idle hours at the standard rate for fixed factory overhead
Total factory overhead cost variance
Alternative Computation of Overhead Variances:
Actual Costs
Applied Costs
Balance
SEABURY INC.
Factory Overhead Cost Variance Report – Assembly Department
For the Month Ended October 31
Variances
Instructions
2
Problem 13-7
Name:
Section:
Score: See student sheet for student’s score
Scoring:
*Since some answer boxes are correct when left blank, the beginning score is greater than 0%.
Normal capacity for the month 25,000 hrs.
Actual productive capacity used for the month 23,500 hrs.
Budget
(at actual
Variable factory overhead cost: production) Actual Favorable Unfavorable
Indirect factory wages 141,000$ 140,500$ (500)$ –$
Power and light 27,730 28,600 – 870
Indirect materials 15,980 15,220 (760) –
Alternative Computation of Overhead Variances:
Actual costs
388,070$
Applied costs
(376,235)
Balance 11,835$
SEABURY INC.
A red asterisk (*) will appear immediately beside or below an incorrect answer.
For the Month Ended October 31
Variances
Problem 13-7
SOLUTION
Factory Overhead Cost Variance Report – Assembly Department
Instructions
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ON
Name:
Section:
Score: 0%
Key Code:
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2
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Exercise 13-8
Instructions
Carbonated
Concentrate
2-Liter Bottles
Water
COCA–COLA ENTERPRISES—DALLAS PLANT
Direct Materials Purchases Budget
For the Month Ending October 31
(Assumed Data)
Name:
Section:
Score: See student sheet for student’s score
Scoring:
Concentrate
2-Liter Bottles
Water
ON
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Carbonated
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COCA–COLA ENTERPRISES—DALLAS PLANT
Direct Materials Purchases Budget
For the Month Ending October 31
(Assumed Data)
Exercise 13-8
SOLUTION
Instructions
Name:
Section:
Score: 0%
Key Code:
Forming Assembly
Department Department
Exercise 13-9
Instructions
2
ISNER RACKET COMPANY
Direct Labor Cost Budget
For the Month Ending August 31
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Name:
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Scoring:
Forming Assembly
Department Department
For the Month Ending August 31
ON
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ISNER RACKET COMPANY
Direct Labor Cost Budget
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Exercise 13-9
SOLUTION
Instructions
Name:
Section:
Score: 0%
Key Code:
a.
501 Jeans
b.
Inseam Outseam Pockets Zipper Total
Minutes:
Dockers
501 Jeans
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Exercise 13-10
Instructions
2
February
(Assumed Data)
LEVI STRAUSS & CO.
Production Budget
February
(Assumed Data)
Dockers
LEVI STRAUSS & CO.
Direct Labor Cost Budget
Name:
Section:
Score: See student sheet for student’s score
Scoring:
a.
501 Jeans
Expected units to be sold 62,500 48,000
b.
Inseam Outseam Pockets Zipper Total
Minutes:
Dockers63,000 75,600 37,800 50,400
501 Jeans58,200 43,650 29,100 14,550
Exercise 13-10
SOLUTION
Instructions
ON
Direct Labor Cost Budget
LEVI STRAUSS & CO.
February
(Assumed Data)
(Assumed Data)
Dockers
Answers are entered in the cells with gray backgrounds.
Production Budget
February
LEVI STRAUSS & CO.
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