Reference no: EM131817710
Sales and Manufacturing Expenses: Budget and Actual (2014)
You will use this table to complete Milestones One and Two.
|
Budget ($)
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Actual ($)
|
|
|
|
Sales
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1,050,000
|
991,700
|
|
|
|
Expenses
|
|
|
Materials - Cedar
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225,000
|
248,160
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Materials - Plastic
|
37,500
|
37,741
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Factory Worker Labor
|
300,000
|
332,760
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Materials - Indirect
|
3,000
|
2,585
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Factory Depreciation
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78,000
|
78,000
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Factory Utilities
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12,000
|
12,000
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Factory Maintenance and Repairs
|
5,000
|
4,500
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Shipping ($2.25/each)
|
112,500
|
105,750
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Sales Commissions ($2.00/unit sold)
|
100,000
|
94,000
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Office Rent
|
12,000
|
12,000
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Advertising
|
20,000
|
20,000
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Liability insurance
|
5,000
|
5,000
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Office Depreciation
|
1,000
|
1,000
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Office Salaries
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48,000
|
48,000
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|
|
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Total Expenses
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959,000
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1,001,496
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Contribution Margin: Static Budget and Actual Results (2014)
You will use this table to complete Milestone Two.
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Actual Results
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Static Budget Amount
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|
|
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Units Sold
|
47,000
|
50,000
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Revenues ($)
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991,700
|
1,050,000
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Manufacturing Costs ($)
|
|
|
Variable
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621,246
|
565,500
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Fixed
|
94,500
|
95,000
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Gross Margin
|
275,954
|
389,500
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Standard Variable Manufacturing Costs (2014)
You will use this table to complete Milestone Two.
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Static Budget Costs
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Standard Input
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|
|
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Direct Materials: Cedar
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225,000
|
3.0 ft/unit
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Direct Materials: Plastic
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37,500
|
1.0 ft/unit
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Direct Manufacturing Labor
|
300,000
|
0.5 hrs/unit
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Variable Manufacturing Overhead
|
3,000
|
0.3 ft/unit
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Actual Variable Manufacturing Costs (2014)
You will use this table to complete Milestone Two.
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Actual Costs
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Actual Input
|
|
|
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Direct Materials: Cedar
|
248,160
|
3.2 ft/unit
|
Direct Materials: Plastic
|
37,741
|
1.1 ft/unit
|
Direct Manufacturing: Labor ($)
|
332,760
|
.60 hr/unit
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Variable Manufacturing Overhead
|
2,585
|
0.25 ft/unit
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a) Classify all product and period costs appropriately.
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c) Compute contribution margin per unit and contribution margin ratio.
d) Determine the breakeven quantity and the breakeven revenue accurately.
e) Determine if the company is breaking even. What are cost-volume-profit analysis implications on short-term planning?
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