Wade Company estimates that it will produce 6,500 units of product IOA during the current month. Budgeted variable manufacturing costs per unit are direct materials $7, direct labor $13, and overhead $19. Monthly budgeted fixed manufacturing overhead costs are $8,200 for depreciation and $3,500 for supervision.<\/p>\n

In the current month, Wade actually produced 7,000 units and incurred the following costs: direct materials $42,700, direct labor $82,800, variable overhead $132,200, depreciation $8,200, and supervision $3,720.<\/p>\n

Prepare a static budget report. Hint:<\/i> The Budget column is based on estimated production while the Actual column is the actual cost incurred during the period. (List variable costs before fixed costs.)<\/strong><\/i><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

Wade Company<\/strong> Static Budget Report<\/strong><\/td>\n<\/tr>\n
<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	\n Difference<\/strong><\/p>\n<\/td>\n<\/tr>\n
<\/td>\n	<\/td>\n	\n Budget<\/strong><\/p>\n<\/td>\n	<\/td>\n	\n Actual<\/strong><\/p>\n<\/td>\n	<\/td>\n	\n Favorable Unfavorable<\/strong> Neither Favorable nor Unfavorable<\/strong><\/p>\n<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n $<\/p>\n<\/td>\n	<\/td>\n	\n $<\/p>\n<\/td>\n	<\/td>\n	\n $<\/p>\n<\/td>\n	\n <\/option>Favorable<\/option>Unfavorable<\/option>Neither Favorable nor Unfavorable<\/option><\/select><\/p>\n<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	\n <\/option>Favorable<\/option>Unfavorable<\/option>Neither Favorable nor Unfavorable<\/option><\/select><\/p>\n<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	\n <\/option>Favorable<\/option>Unfavorable<\/option>Neither Favorable nor Unfavorable<\/option><\/select><\/p>\n<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	\n <\/option>Favorable<\/option>Unfavorable<\/option>Neither Favorable nor Unfavorable<\/option><\/select><\/p>\n<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n	<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	\n <\/option>Favorable<\/option>Unfavorable<\/option>Neither Favorable nor Unfavorable<\/option><\/select><\/p>\n<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	\n <\/option>Favorable<\/option>Unfavorable<\/option>Neither Favorable nor Unfavorable<\/option><\/select><\/p>\n<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	<\/td>\n	\n <\/p>\n<\/td>\n	\n <\/option>Favorable<\/option>Unfavorable<\/option>Neither Favorable nor Unfavorable<\/option><\/select><\/p>\n<\/td>\n<\/tr>\n
\n <\/option>Depreciation<\/option>Direct Labor<\/option>Direct Materials<\/option>Fixed Costs<\/option>Overhead<\/option>Supervision<\/option>Total Costs<\/option>Total Fixed Costs<\/option>Total Variable Costs<\/option>Units Produced<\/option>Variable Costs<\/option><\/select><\/p>\n<\/td>\n	<\/td>\n	\n $<\/p>\n<\/td>\n	<\/td>\n	\n $<\/p>\n<\/td>\n	<\/td>\n	\n $<\/p>\n<\/td>\n	\n <\/option>Favorable<\/option>Unfavorable<\/option>Neither Favorable nor Unfavorable<\/option><\/select><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Were costs controlled? <\/p>\n <\/option>Yes<\/option>No<\/option><\/select><\/p>\n\n\n\n Click if you would like to Show Work for this question:<\/strong><\/td>\n \n Open Show Work<\/a><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":" Brief Exercise 22-5 Gundy Company expects to produce 1,220,400 units of Product XX in 2017. Monthly production is expected to range from 73,100 to 114,700 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $7, and overhead $9. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_joinchat":[]},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/153254"}],"collection":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/comments?post=153254"}],"version-history":[{"count":0,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/posts\/153254\/revisions"}],"wp:attachment":[{"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/media?parent=153254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/categories?post=153254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qualityassignments.net\/wp-json\/wp\/v2\/tags?post=153254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}