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Analysis of cost reports (adapted from CMA exam). Judy is the production manager of Test Images, a division of the larger corporation, Image View, Inc. Judy has complained several times to the corporate office that their cost reports used to evaluate her plant are misleading. She states, ''I know how to get good quality product out at low cost. The cost reports don't show any of this; they're always negative, no matter what I do. There's no way you can win with accounting or the people at headquarters who use these reports.''
A copy of the latest report follows.
TEST IMAGES Cost Report
Month of November (in thousands)
Master Budget
Actual Cost
Excess Cost
Raw Material
$ 500
$ 550
$ 50
Direct Labor
700
650
(50)
Overhead
150
180
30
Total
$1,350
$1,380
$ 30
Identify and explain changes to the report that would make the cost information more meaningful to the production managers.
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