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Student Name:
Class:
Master
Budget
Actual Marketing and Flexible Budget Sales Master Budget
(120,000 Manufacturing Administrative Sales Price (120,000 Activity (108,000
units) Variances Variances Variance units) Variance units)
Part b. Round all computations to the nearest dollar.
Favorable variances are positive; unfavorable variances are negative
GIBSON CORPORATION
Instructor
McGraw-Hill/Irwin
Problem 16-46
Part a.
120,000 units
672,000$
147,200
61,400
Sales revenue
Variable costs
Manufacturing
Marketing and administrative
GIBSON CORPORATION
Given Data P16-46:
Actual results for period:
Sales volume
Student Name:
Class:
Reported
Income Marketing and Flexible Sales
Master Budget
Statement
Manufacturing
Administrative
Sales Price
Budget (units)
Activity (2,400
(2,250 units) Variance Variance Variance 2,250 Variance units)
117,000$ (4,500)$ 121,500$ (8,100)$ 129,600$
30,600 3,600$ 34,200 2,280 36,480
Variable manufacturing costs
Sales revenue
Favorable variances are positive; unfavorable variances are negative
Problem 16-47
McGraw-Hill/Irwin
Instructor
Reported
Income
Marketing and
Sales Flexible Sales Master
Statement
Manufacturing
Administrative
Price Budget Activity Budget
(2,250 units) Variance Variance Variance (a units) Variance (2,400 units)
PROFIT VARIANCE ANALYSIS
Given Data P16-47:
Student Name:
Class:
Master Flexible
Budget Budget
600 units 180 units
96,000$ 86,400$
Manufacturing costs
Sales Revenue
ODESSA, INC.
Problem 16-50
McGraw-Hill/Irwin
Variable costs:
Instructor
Actual
Master Budget
(based on (based on
actual of budgeted
540 units) 600 units)
88,320$ 96,000$
13,632 14,400
11,520 13,440
Direct labor
Materials
Sales revenue
Less
Manufacturing costs
ODESSA, INC.
Given Data P16-50:
Student Name:
Class:
2 gallons 6 per gallon 12$ per unit
Actual Inputs
Actual Price @ Standard Efficiency Flexible
Cost Variance Price Variance Budget
27,216 «- Correct! 3,024 «- Correct! 30,240 «- Correct! (2,880) «- Correct! 27,360 «- Correct!
Direct materials
Standard costs:
Direct materials
Favorable variances are positive; Unfavorable variances are negative.
Standard
per unit
Standard Cost
per unit
Standard Cost
Instructor
McGraw-Hill/Irwin
Problem 16-59
DELTA PRODUCTS
Quantity
of input
of output
15,120
Materials used:
Gallons
DELTA PRODUCTS
Given Data P16-59:
Actual costs and activities for the month:
Standard costs (per unit of output)
Current period information:
