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Ch 20 P1

Seminar Four
Tuesday
Chapters 20 & 21
P1
P1. Preparing Operating Budgets
1. October November December
Direct materials used:
Anodized steel:
Leather strapping:
Direct labor costs:
Forging operation:
Leather-wrapping operation:
Total direct labor costs
Overhead costs:
Forging operation:
Leather-wrapping operation:
Total overhead costs
Total manufacturing costs budgeted
2. Enterprises, Inc.
Cost of Goods Manufactured Budget
For the Quarter Ended December 31
October November December Quarter
Direct materials used
Direct labor costs
Overhead costs
Total manufacturing costs and
cost of goods manufactured

Ch 20 P3

P3. Cash Budget
All Eyes Security Services Company
Monthly Cash Budget
For the Three-Month Period Ended March 31
Quarter
January February March Total
Cash receipts:
Client billings*
Cash payments:
Operating supplies
Direct labor (180 hrs. × 4 specialists × $15/hr.)
Selling and administrative expenses
Service overhead
Interest expense**
Loan payment
Income tax payment
Total cash payments
Cash increase (decrease)
Beginning cash balance
Ending cash balance
* Client billing collections:
November billings
December billings
January billings
February billings
March billings
Total
** January and February:
March:

Ch 21 P1

P1. Preparing a Flexible Budget and Evaluating Performance (Concluded)
3. Beverage Products Company
Performance Report
For April
Variable Difference
Unit Budgeted Actual Under (Over)
Cost Category Cost Costs* Costs Budget
Direct materials
Direct labor
Variable overhead:
Indirect labor
Supplies
Heat and power
Other
Total variable overhead costs
Fixed overhead:
Heat and power
Depreciation
Insurance and taxes
Other
Total fixed overhead costs
Totals
* Based on actual production of 45,560 units.
4.

Ch 21 P2

P2. Evaluating Cost Center Performance
1. East Coast Plant
Performance Report
For the Month
Actual Flexible Master
Results Variance Budget Variance Budget
Center costs:
Rolled aluminum
Lids
Direct labor
Small tools and supplies
Depreciation and rent
Total cost
Performance measures:
Cans processed per hour
Average daily pounds of scrap metal
Cans processed (in millions) 360 400
2. West Coast Plant
Performance Report
For the Month
Actual Flexible Master
Results Variance Budget Variance Budget
Center costs:
Total cost
Performance measures:
Cans processed per hour
Average daily pounds of scrap metal
Cans processed (in millions)
3. Use this space to complete the narrative
4. Use this space to complete the narrative